Riley Exploration Permian (NYSE:REPX) Sets New 12-Month High – Still a Buy?

Riley Exploration Permian, Inc. (NYSE:REPX) reached a new 52-week high on Thursday . The company traded as high as $35.75 and last traded at $35.71, with a volume of 9704 shares traded. The stock had previously closed at $35.12.

Analysts Set New Price Targets

Separately, Truist Financial upped their price objective on Riley Exploration Permian from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

Riley Exploration Permian Stock Performance

The business has a 50 day moving average of $28.75 and a 200 day moving average of $27.88. The company has a market capitalization of $770.27 million, a P/E ratio of 6.23 and a beta of 1.34. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Thursday, October 24th were paid a dividend of $0.38 per share. The ex-dividend date 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 4.24%. Riley Exploration Permian’s dividend payout ratio is presently 26.95%.

Insider Activity at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $26.52, for a total value of $167,129.04. Following the completion of the sale, the chief executive officer now directly owns 335,356 shares of the company’s stock, valued at $8,893,641.12. This trade represents a 1.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Several institutional investors have recently modified their holdings of the stock. Koss Olinger Consulting LLC lifted its stake in shares of Riley Exploration Permian by 2.3% in the 3rd quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock valued at $485,000 after purchasing an additional 409 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Riley Exploration Permian by 38.6% in the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after purchasing an additional 1,062 shares during the last quarter. CWM LLC raised its holdings in shares of Riley Exploration Permian by 1,191.7% in the second quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after buying an additional 1,144 shares during the period. Ariadne Wealth Management LP purchased a new stake in shares of Riley Exploration Permian in the second quarter worth approximately $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Riley Exploration Permian in the second quarter worth approximately $39,000. 58.91% of the stock is owned by institutional investors.

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.