Denali Advisors LLC Makes New Investment in Riley Exploration Permian, Inc. $REPX

Denali Advisors LLC purchased a new stake in Riley Exploration Permian, Inc. (NYSE:REPX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,385 shares of the company’s stock, valued at approximately $745,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Riley Exploration Permian by 93.5% in the 1st quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $27,000 after buying an additional 449 shares during the period. CWM LLC grew its holdings in shares of Riley Exploration Permian by 13.0% in the 1st quarter. CWM LLC now owns 4,221 shares of the company’s stock valued at $123,000 after buying an additional 486 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Riley Exploration Permian by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,619 shares of the company’s stock valued at $751,000 after buying an additional 552 shares during the period. Empowered Funds LLC grew its holdings in shares of Riley Exploration Permian by 1.8% in the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock valued at $920,000 after buying an additional 562 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Riley Exploration Permian by 68.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,150 shares of the company’s stock valued at $61,000 after buying an additional 874 shares during the period. Institutional investors and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Price Performance

Shares of NYSE REPX opened at $26.45 on Thursday. The firm has a market cap of $583.01 million, a PE ratio of 4.69 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian, Inc. has a 1-year low of $21.98 and a 1-year high of $37.55. The company has a fifty day moving average price of $27.71 and a 200 day moving average price of $26.86.

Riley Exploration Permian Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Tuesday, October 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, October 21st. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.38. Riley Exploration Permian’s dividend payout ratio (DPR) is currently 35.32%.

Insider Activity

In other Riley Exploration Permian news, insider Corey Neil Riley sold 3,500 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $26.42, for a total transaction of $92,470.00. Following the sale, the insider directly owned 176,700 shares of the company’s stock, valued at $4,668,414. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bobby Riley sold 15,000 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $26.01, for a total transaction of $390,150.00. Following the sale, the chief executive officer directly owned 399,636 shares in the company, valued at $10,394,532.36. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Capital initiated coverage on shares of Riley Exploration Permian in a report on Monday, October 13th. They issued a “buy” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average target price of $41.50.

Riley Exploration Permian Profile

Riley Exploration Permian, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the Northwest Shelf and Yeso trend of the Permian Basin.