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

Kennondale Capital Management LLC bought a new stake in Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 34,572 shares of the company's stock, valued at approximately $1,104,000. Kennondale Capital Management LLC owned 0.16% of Riley Exploration Permian as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in Riley Exploration Permian by 61.0% during the third quarter. Victory Capital Management Inc. now owns 39,091 shares of the company's stock worth $1,036,000 after purchasing an additional 14,810 shares during the period. Empowered Funds LLC lifted its stake in Riley Exploration Permian by 5.2% during the third quarter. Empowered Funds LLC now owns 29,566 shares of the company's stock worth $783,000 after purchasing an additional 1,474 shares during the period. Quest Partners LLC lifted its stake in Riley Exploration Permian by 135.0% during the third quarter. Quest Partners LLC now owns 8,967 shares of the company's stock worth $238,000 after purchasing an additional 5,152 shares during the period. Segall Bryant & Hamill LLC bought a new position in Riley Exploration Permian during the third quarter worth about $1,592,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Riley Exploration Permian by 48.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 121,353 shares of the company's stock worth $3,215,000 after purchasing an additional 39,759 shares during the period. Institutional investors own 58.91% of the company's stock.

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Wall Street Analyst Weigh In

Separately, Truist Financial raised their price target 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 Activity

In other news, insider Corey Neil Riley sold 3,500 shares of the business's stock in a transaction 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 completion of the transaction, the insider now owns 125,974 shares of the company's stock, valued at $3,444,129.16. The trade was a 2.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bobby Riley sold 15,000 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $33.37, for a total transaction of $500,550.00. Following the completion of the transaction, the chief executive officer now directly owns 296,375 shares of the company's stock, valued at $9,890,033.75. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

Riley Exploration Permian Price Performance

Shares of NYSE:REPX traded down $0.41 during trading on Friday, reaching $29.79. The stock had a trading volume of 121,472 shares, compared to its average volume of 124,436. Riley Exploration Permian, Inc. has a 52 week low of $23.14 and a 52 week high of $37.55. The business's 50-day moving average price is $32.48 and its 200 day moving average price is $30.95. 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 stock has a market capitalization of $640.63 million, a PE ratio of 5.28 and a beta of 1.58.

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 paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date was Thursday, January 23rd. Riley Exploration Permian's dividend payout ratio (DPR) is currently 35.68%.

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.