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

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

Riley Exploration Permian Trading Up 0.6 %

Shares of REPX opened at $33.60 on Friday. The stock has a fifty day moving average of $27.45 and a two-hundred day moving average of $27.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.70. The company has a market capitalization of $721.83 million, a PE ratio of 5.84 and a beta of 1.34. Riley Exploration Permian has a fifty-two week low of $21.27 and a fifty-two week high of $34.90.

Riley Exploration Permian Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Thursday, October 24th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, October 24th. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s dividend payout ratio is 26.95%.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the business’s 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 transaction, the chief executive officer now owns 326,375 shares in the company, valued at $8,645,673.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Riley Exploration Permian

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Riley Exploration Permian by 95.5% during the 2nd quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock worth $3,935,000 after purchasing an additional 67,900 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Riley Exploration Permian by 77.2% during the first quarter. First Eagle Investment Management LLC now owns 176,564 shares of the company’s stock worth $5,827,000 after purchasing an additional 76,932 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Riley Exploration Permian in the second quarter worth about $1,856,000. Bailard Inc. grew its stake in Riley Exploration Permian by 56.5% in the second quarter. Bailard Inc. now owns 27,977 shares of the company’s stock worth $792,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Riley Exploration Permian during the second quarter valued at approximately $687,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

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.