Denali Advisors LLC Takes Position in Riley Exploration Permian, Inc. $REPX

Denali Advisors LLC bought a new stake in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,385 shares of the company's stock, valued at approximately $745,000. Denali Advisors LLC owned about 0.13% of Riley Exploration Permian at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of REPX. GAMMA Investing LLC raised its stake in shares of Riley Exploration Permian by 93.5% in the first quarter. GAMMA Investing LLC now owns 929 shares of the company's stock valued at $27,000 after acquiring an additional 449 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Riley Exploration Permian by 68.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,150 shares of the company's stock valued at $61,000 after acquiring an additional 874 shares during the last quarter. State of Wyoming acquired a new stake in shares of Riley Exploration Permian in the first quarter valued at approximately $102,000. CWM LLC raised its position in Riley Exploration Permian by 13.0% in the 1st quarter. CWM LLC now owns 4,221 shares of the company's stock worth $123,000 after purchasing an additional 486 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in Riley Exploration Permian by 41.7% in the 1st quarter. Quantbot Technologies LP now owns 4,890 shares of the company's stock worth $143,000 after purchasing an additional 1,439 shares during the last quarter. Institutional investors own 58.91% of the company's stock.

Riley Exploration Permian Stock Performance

REPX stock opened at $26.45 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The company has a 50 day moving average price of $27.71 and a 200 day moving average price of $26.86. Riley Exploration Permian, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $37.55. The stock has a market capitalization of $583.01 million, a PE ratio of 4.69 and a beta of 1.18.

Riley Exploration Permian Increases Dividend

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

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction on Monday, August 11th. The shares were sold at an average price of $26.01, for a total transaction of $390,150.00. Following the completion of the sale, the chief executive officer owned 399,636 shares of the company's stock, valued at approximately $10,394,532.36. The trade was a 3.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction on Friday, August 8th. The stock was 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. This represents a 1.94% decrease in their position. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Riley Exploration Permian Company 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.

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