Riley Exploration Permian (NYSE:REPX) Reaches New 12-Month High – Time to Buy?

Shares of Riley Exploration Permian, Inc. (NYSE:REPX) reached a new 52-week high during trading on Monday . The stock traded as high as $44.44 and last traded at $44.3010, with a volume of 49162 shares. The stock had previously closed at $43.51.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on REPX. Roth Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Riley Exploration Permian in a research note on Thursday, July 23rd. Zacks Research cut shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Truist Financial lowered their price target on shares of Riley Exploration Permian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Riley Exploration Permian has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Riley Exploration Permian Stock Performance

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 cap of $994.71 million, a PE ratio of 7.96 and a beta of 0.96. The business has a 50 day moving average price of $37.05 and a two-hundred day moving average price of $35.64.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were given a $0.40 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. Riley Exploration Permian’s payout ratio is presently 28.99%.

Insider Activity

In related news, insider Corey Riley sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.20, for a total value of $123,200.00. Following the sale, the insider directly owned 210,062 shares of the company’s stock, valued at $7,394,182.40. This trade represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philip Riley sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total value of $150,440.00. Following the transaction, the chief financial officer owned 235,503 shares in the company, valued at approximately $8,857,267.83. This represents a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $721,765. Insiders own 4.20% of the company’s stock.

Institutional Trading of Riley Exploration Permian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REPX. WINTON GROUP Ltd boosted its holdings in Riley Exploration Permian by 14.4% in the second quarter. WINTON GROUP Ltd now owns 28,075 shares of the company’s stock valued at $925,000 after acquiring an additional 3,527 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Riley Exploration Permian by 48.2% in the 2nd quarter. Engineers Gate Manager LP now owns 42,968 shares of the company’s stock worth $1,416,000 after purchasing an additional 13,971 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Riley Exploration Permian by 35.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,407 shares of the company’s stock worth $442,000 after purchasing an additional 3,522 shares in the last quarter. Allworth Financial LP lifted its position in shares of Riley Exploration Permian by 1,831.8% in the 2nd quarter. Allworth Financial LP now owns 1,275 shares of the company’s stock worth $42,000 after purchasing an additional 1,209 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Riley Exploration Permian in the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

About Riley Exploration Permian

Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company. The company focuses on acquiring, developing and operating oil and gas properties, with production consisting primarily of crude oil, natural gas and natural gas liquids.

Riley Exploration Permian’s operations are concentrated in the Permian Basin, one of the largest hydrocarbon-producing regions in the United States. Its asset base is primarily located in southeastern New Mexico, where the company develops wells and related infrastructure across its leasehold interests.

The company was established in 2016 and became a publicly traded company in 2021.