Denali Advisors LLC Raises Stake in Riley Exploration Permian, Inc. $REPX

Denali Advisors LLC increased its holdings in shares of Riley Exploration Permian, Inc. (NYSE:REPX) by 1,524.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 228,051 shares of the company’s stock after buying an additional 214,010 shares during the period. Denali Advisors LLC’s holdings in Riley Exploration Permian were worth $7,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Riley Exploration Permian by 5.4% during the second quarter. Bank of America Corp DE now owns 7,806 shares of the company’s stock valued at $205,000 after purchasing an additional 402 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Riley Exploration Permian by 6.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company’s stock valued at $189,000 after buying an additional 411 shares during the last quarter. North Star Investment Management Corp. raised its stake in Riley Exploration Permian by 1.3% during the second quarter. North Star Investment Management Corp. now owns 36,273 shares of the company’s stock valued at $1,196,000 after buying an additional 473 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Riley Exploration Permian by 6.5% in the fourth quarter. MetLife Investment Management LLC now owns 8,410 shares of the company’s stock worth $222,000 after acquiring an additional 516 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Riley Exploration Permian by 1.8% in the first quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after acquiring an additional 562 shares during the last quarter. Institutional investors own 58.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on REPX shares. Zacks Research lowered Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Truist Financial decreased their target price on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Roth Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CFO Philip A. Riley sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total transaction of $150,440.00. Following the transaction, the chief financial officer owned 235,503 shares in the company, valued at approximately $8,857,267.83. This represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Corey Neil Riley sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the sale, the insider directly owned 210,062 shares in the company, valued at approximately $7,394,182.40. The trade was a 1.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,000 shares of company stock valued at $721,765 over the last ninety days. Insiders own 4.20% of the company’s stock.

Riley Exploration Permian Stock Down 0.8%

Riley Exploration Permian stock opened at $37.42 on Thursday. The firm has a market cap of $829.00 million, a price-to-earnings ratio of 6.63 and a beta of 0.93. The stock has a fifty day simple moving average of $34.22 and a two-hundred day simple moving average of $33.95. Riley Exploration Permian, Inc. has a 12 month low of $24.08 and a 12 month high of $41.53. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.3%. Riley Exploration Permian’s dividend payout ratio (DPR) is 28.99%.

Riley Exploration Permian Profile

Riley Exploration Permian, Inc (NYSE:REPX) is a special purpose acquisition company formed to identify, acquire and operate assets in the oil and natural gas sector, with a dedicated focus on the Permian Basin. Incorporated in Delaware, the company completed its initial public offering on the New York Stock Exchange and is positioned to pursue a business combination with one or more upstream or midstream energy businesses. Riley Exploration Permian’s strategy centers on leveraging the region’s prolific reservoirs and existing infrastructure to drive growth and value for its shareholders.

The company seeks to target exploration and production assets in both the Midland and Delaware sub-basins of West Texas and southeastern New Mexico, where extensive pipeline networks and favorable geologic characteristics support efficient development.