Riley Exploration Permian (NYSE:REPX) Given New $45.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price objective reduced by Truist Financial from $48.00 to $45.00 in a research note released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Stock Up 1.2 %

REPX stock opened at $29.09 on Monday. Riley Exploration Permian has a fifty-two week low of $21.27 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.59 and a quick ratio of 0.53. The stock has a market capitalization of $626.60 million, a price-to-earnings ratio of 5.47 and a beta of 1.36. The business’s fifty day moving average price is $27.90 and its two-hundred day moving average price is $26.66.

Riley Exploration Permian (NYSE:REPX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.11. Riley Exploration Permian had a net margin of 24.16% and a return on equity of 25.64%. The business had revenue of $99.74 million during the quarter, compared to analysts’ expectations of $96.65 million. On average, equities analysts anticipate that Riley Exploration Permian will post 6.45 earnings per share for the current year.

Riley Exploration Permian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.44 dividend on an annualized basis and a yield of 4.95%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 29.27%.

Insider Activity

In related news, CEO Bobby Riley sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the sale, the chief executive officer now owns 366,658 shares of the company’s stock, valued at $10,266,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the transaction, the chief executive officer now directly owns 366,658 shares in the company, valued at $10,266,424. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Corey Neil Riley sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $26.61, for a total value of $66,525.00. Following the completion of the sale, the insider now directly owns 146,837 shares in the company, valued at $3,907,332.57. The disclosure for this sale can be found here. In the last three months, insiders sold 27,520 shares of company stock worth $752,756. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Riley Exploration Permian

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC raised its position in Riley Exploration Permian by 14.7% during the 4th quarter. Denali Advisors LLC now owns 34,347 shares of the company’s stock worth $936,000 after purchasing an additional 4,400 shares during the last quarter. PCG Wealth Advisors LLC raised its holdings in Riley Exploration Permian by 3.2% during the 4th quarter. PCG Wealth Advisors LLC now owns 117,912 shares of the company’s stock worth $3,212,000 after purchasing an additional 3,680 shares during the last quarter. Strs Ohio lifted its position in shares of Riley Exploration Permian by 300.0% in the 4th quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 900 shares during the period. Jackson Hole Capital Partners LLC boosted its stake in shares of Riley Exploration Permian by 17.4% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 449,925 shares of the company’s stock valued at $12,256,000 after purchasing an additional 66,621 shares during the last quarter. Finally, Swiss National Bank raised its stake in Riley Exploration Permian by 20.5% during the fourth quarter. Swiss National Bank now owns 15,900 shares of the company’s stock worth $433,000 after buying an additional 2,700 shares during the last quarter. 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.