Cwm LLC Sells 2,972 Shares of Riley Exploration Permian, Inc. $REPX

Cwm LLC lowered its holdings in Riley Exploration Permian, Inc. (NYSE:REPX) by 70.4% during the second quarter, HoldingsChannel.com reports. The fund owned 1,249 shares of the company’s stock after selling 2,972 shares during the period. Cwm LLC’s holdings in Riley Exploration Permian were worth $33,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in 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. DekaBank Deutsche Girozentrale boosted its stake in 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 buying an additional 874 shares in the last quarter. State of Wyoming bought a new stake in Riley Exploration Permian in the first quarter valued at $102,000. Quantbot Technologies LP raised its stake in Riley Exploration Permian by 41.7% during the first quarter. Quantbot Technologies LP now owns 4,890 shares of the company’s stock worth $143,000 after acquiring an additional 1,439 shares in the last quarter. Finally, Strs Ohio acquired a new position in Riley Exploration Permian during the first quarter worth $201,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $26.01, for a total value of $390,150.00. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Riley Exploration Permian Price Performance

Shares of REPX stock opened at $24.60 on Friday. The stock’s fifty day moving average is $27.31 and its 200-day moving average is $26.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market capitalization of $542.23 million, a PE ratio of 4.36 and a beta of 1.20. Riley Exploration Permian, Inc. has a 52 week low of $21.98 and a 52 week high of $37.55.

Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Tuesday, October 21st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $1.60 dividend on an annualized basis and a yield of 6.5%. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.38. Riley Exploration Permian’s payout ratio is currently 39.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on REPX. Roth Capital initiated coverage on shares of Riley Exploration Permian in a research note on Monday, October 13th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Research upgraded shares of Riley Exploration Permian to a “strong sell” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate 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.