1492 Capital Management LLC Decreases Stock Position in Riley Exploration Permian, Inc. (NYSE:REPX)

1492 Capital Management LLC lowered its position in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) by 51.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,006 shares of the company's stock after selling 28,180 shares during the period. 1492 Capital Management LLC owned 0.13% of Riley Exploration Permian worth $862,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of REPX. New York State Teachers Retirement System bought a new position in shares of Riley Exploration Permian in the fourth quarter valued at $33,000. Summit Investment Advisors Inc. increased its position in Riley Exploration Permian by 44.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,189 shares of the company's stock worth $38,000 after buying an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Riley Exploration Permian during the 4th quarter worth $77,000. Travelers Companies Inc. purchased a new stake in Riley Exploration Permian during the fourth quarter valued at about $80,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Riley Exploration Permian during the fourth quarter worth $110,000. 58.91% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Bobby Riley sold 2,681 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $29.17, for a total transaction of $78,204.77. Following the sale, the chief executive officer now directly owns 439,636 shares in the company, valued at approximately $12,824,182.12. This represents a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Philip A. Riley sold 1,759 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $29.17, for a total transaction of $51,310.03. Following the completion of the sale, the chief financial officer now directly owns 188,172 shares of the company's stock, valued at approximately $5,488,977.24. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,477 shares of company stock worth $770,589 over the last 90 days. 3.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Truist Financial upped their price target on shares of Riley Exploration Permian from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, January 13th.

Riley Exploration Permian Trading Up 1.1 %

Shares of Riley Exploration Permian stock traded up $0.29 on Wednesday, hitting $26.04. The stock had a trading volume of 44,283 shares, compared to its average volume of 114,319. Riley Exploration Permian, Inc. has a one year low of $21.98 and a one year high of $37.55. 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's 50-day simple moving average is $28.64 and its two-hundred day simple moving average is $30.92. The stock has a market cap of $560.41 million, a price-to-earnings ratio of 4.62 and a beta of 1.47.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Thursday, April 24th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, April 24th. This represents a $1.52 annualized dividend and a dividend yield of 5.84%. Riley Exploration Permian's payout ratio is 35.68%.

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.