Riley Exploration Permian (NYSE:REPX) Given New $40.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price target upped by Truist Financial from $38.00 to $40.00 in a research note released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Stock Performance

NYSE REPX traded up $1.39 during mid-day trading on Friday, reaching $33.39. 177,760 shares of the stock were exchanged, compared to its average volume of 125,745. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.58 and a current ratio of 0.63. Riley Exploration Permian has a 1 year low of $21.27 and a 1 year high of $34.90. The business’s 50 day moving average is $27.45 and its 200-day moving average is $27.42. The company has a market capitalization of $720.56 million, a P/E ratio of 5.91 and a beta of 1.34.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.13). The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.62 million. Riley Exploration Permian had a net margin of 28.48% and a return on equity of 24.60%. On average, equities research analysts forecast that Riley Exploration Permian will post 6.37 EPS for the current fiscal year.

Riley Exploration Permian Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 4.55%. Riley Exploration Permian’s payout ratio is currently 26.95%.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 8,981 shares of Riley Exploration Permian stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total transaction of $237,906.69. Following the completion of the sale, the chief executive officer now owns 326,375 shares in the company, valued at approximately $8,645,673.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Riley Exploration Permian

A number of institutional investors and hedge funds have recently made changes to their positions in REPX. CWM LLC raised its stake in shares of Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after acquiring an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP bought a new position in shares of Riley Exploration Permian during the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Riley Exploration Permian during the second quarter worth $39,000. Copeland Capital Management LLC bought a new position in Riley Exploration Permian in the third quarter valued at $48,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $51,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.