Kennondale Capital Management LLC Buys New Position in Riley Exploration Permian, Inc. (NYSE:REPX)

Kennondale Capital Management LLC purchased a new position in shares of Riley Exploration Permian, Inc. (NYSE:REPX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 34,572 shares of the company’s stock, valued at approximately $1,104,000. Kennondale Capital Management LLC owned about 0.16% of Riley Exploration Permian as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Jackson Hole Capital Partners LLC lifted its stake in shares of Riley Exploration Permian by 1.2% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 394,796 shares of the company’s stock valued at $12,602,000 after purchasing an additional 4,788 shares during the period. First Eagle Investment Management LLC lifted its stake in Riley Exploration Permian by 2.2% in the fourth quarter. First Eagle Investment Management LLC now owns 287,048 shares of the company’s stock valued at $9,163,000 after buying an additional 6,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Riley Exploration Permian by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 241,526 shares of the company’s stock worth $7,710,000 after buying an additional 9,101 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Riley Exploration Permian by 20.8% during the 3rd quarter. Geode Capital Management LLC now owns 237,996 shares of the company’s stock worth $6,306,000 after buying an additional 41,020 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Riley Exploration Permian by 4.4% in the 4th quarter. Royce & Associates LP now owns 215,742 shares of the company’s stock valued at $6,886,000 after acquiring an additional 9,178 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

Riley Exploration Permian Stock Up 2.4 %

REPX stock opened at $29.06 on Tuesday. The stock’s 50 day simple moving average is $32.73 and its 200 day simple moving average is $30.95. The company has a market cap of $624.94 million, a P/E ratio of 5.15 and a beta of 1.58. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. Riley Exploration Permian, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $37.55.

Riley Exploration Permian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Thursday, January 23rd were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date was Thursday, January 23rd. Riley Exploration Permian’s payout ratio is 35.68%.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their target price on shares of Riley Exploration Permian from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Insider Buying and Selling

In other news, CEO Bobby Riley sold 15,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $33.37, for a total value of $500,550.00. Following the completion of the sale, the chief executive officer now directly owns 296,375 shares of the company’s stock, valued at $9,890,033.75. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.34, for a total value of $95,690.00. Following the transaction, the insider now directly owns 125,974 shares in the company, valued at approximately $3,444,129.16. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

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.