Riley Exploration Permian (NYSE:REPX) Raised to Strong Sell at Zacks Research

Riley Exploration Permian (NYSE:REPX) was upgraded by investment analysts at Zacks Research to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Roth Capital began coverage on Riley Exploration Permian in a research report on Monday, October 13th. They issued a “buy” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Riley Exploration Permian Stock Performance

REPX opened at $25.25 on Monday. Riley Exploration Permian has a 12-month low of $21.98 and a 12-month high of $37.55. The stock has a market cap of $556.56 million, a price-to-earnings ratio of 4.48 and a beta of 1.18. The business has a 50 day moving average of $27.48 and a 200-day moving average of $27.01. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at Riley Exploration Permian

In related news, insider Corey Neil Riley sold 3,500 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $26.42, for a total transaction of $92,470.00. Following the completion of the sale, the insider owned 176,700 shares of the company’s stock, valued at $4,668,414. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bobby Riley sold 15,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $26.01, for a total transaction of $390,150.00. Following the sale, the chief executive officer owned 399,636 shares in the company, valued at $10,394,532.36. The trade was a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Riley Exploration Permian by 93.5% during the first quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $27,000 after purchasing an additional 449 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of 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 purchasing an additional 874 shares during the last quarter. State of Wyoming bought a new position in shares of Riley Exploration Permian in the 1st quarter valued at $102,000. CWM LLC raised its holdings in shares of Riley Exploration Permian by 13.0% during the 1st quarter. CWM LLC now owns 4,221 shares of the company’s stock worth $123,000 after buying an additional 486 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Riley Exploration Permian by 442.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,231 shares of the company’s stock worth $111,000 after buying an additional 3,451 shares during the last quarter. 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.