Jackson Hole Capital Partners LLC Reduces Stock Holdings in Riley Exploration Permian, Inc. $REPX

Key Points

• Jackson Hole Capital Partners LLC has reduced its stake in Riley Exploration Permian, Inc. by 6.2%, owning approximately 346,039 shares after selling 23,021 shares in Q2.
• Riley Exploration Permian has announced a quarterly dividend of $0.40, which will be paid on November 6th, marking an increase from the previous dividend of $0.38 and yielding 5.9%.
• Wall Street analysts have issued a consensus rating of "Strong Buy" on Riley Exploration Permian, with a noted price target of $41.50.

Jackson Hole Capital Partners LLC lessened its stake in shares of Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 346,039 shares of the company's stock after selling 23,021 shares during the period. Riley Exploration Permian comprises 1.7% of Jackson Hole Capital Partners LLC's investment portfolio, making the stock its 10th largest holding. Jackson Hole Capital Partners LLC owned about 1.57% of Riley Exploration Permian worth $9,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Riley Exploration Permian by 93.5% during the first quarter. GAMMA Investing LLC now owns 929 shares of the company's stock worth $27,000 after purchasing an additional 449 shares during the period. CWM LLC boosted its stake in shares of Riley Exploration Permian by 13.0% during 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 increased its stake in shares of Riley Exploration Permian by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 28,619 shares of the company's stock worth $751,000 after acquiring an additional 552 shares during the last quarter. Empowered Funds LLC lifted its stake in Riley Exploration Permian by 1.8% in the first quarter. Empowered Funds LLC now owns 31,549 shares of the company's stock valued at $920,000 after acquiring an additional 562 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake 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 acquiring an additional 874 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Riley Exploration Permian Trading Up 2.1%

Shares of NYSE REPX opened at $27.01 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock has a market cap of $595.35 million, a price-to-earnings ratio of 4.79 and a beta of 1.18. The company's fifty day moving average is $27.71 and its 200-day moving average is $26.87. Riley Exploration Permian, Inc. has a twelve month low of $21.98 and a twelve month high of $37.55.

Riley Exploration Permian Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Tuesday, October 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, October 21st. This is a positive change from Riley Exploration Permian's previous quarterly dividend of $0.38. Riley Exploration Permian's dividend payout ratio (DPR) is presently 35.32%.

Insider Buying and Selling at Riley Exploration Permian

In other news, insider Corey Neil Riley sold 3,500 shares of the 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 completion of the transaction, the insider directly owned 176,700 shares in the company, valued at $4,668,414. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bobby Riley sold 15,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $26.01, for a total transaction of $390,150.00. Following the transaction, the chief executive officer owned 399,636 shares in the company, valued at approximately $10,394,532.36. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Roth Capital started coverage on shares of Riley Exploration Permian in a research note on Monday, October 13th. They issued a "buy" rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and an average price target of $41.50.

About Riley Exploration Permian

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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