Riley Exploration Permian (NYSE:REPX) Stock Price Expected to Rise, Truist Financial Analyst Says

Riley Exploration Permian (NYSE:REPX) had its target price hoisted by Truist Financial from $45.00 to $47.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Riley Exploration Permian Trading Up 3.7 %

Shares of REPX stock opened at $36.62 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian has a 12-month low of $21.27 and a 12-month high of $37.15. The stock has a market capitalization of $786.60 million, a P/E ratio of 6.49 and a beta of 1.46. The firm’s 50 day moving average is $33.22 and its 200 day moving average is $29.57.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 23rd will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Thursday, January 23rd. Riley Exploration Permian’s payout ratio is currently 26.95%.

Insider Activity at Riley Exploration Permian

In related news, CEO Bobby Riley sold 4,636 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $35.19, for a total transaction of $163,140.84. Following the completion of the sale, the chief executive officer now directly owns 321,739 shares in the company, valued at approximately $11,321,995.41. The trade was a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp purchased a new stake in shares of Riley Exploration Permian in the 2nd quarter worth $4,392,000. AQR Capital Management LLC purchased a new position in Riley Exploration Permian during the second quarter valued at $3,723,000. Marshall Wace LLP bought a new stake in Riley Exploration Permian during the second quarter valued at about $2,396,000. First Eagle Investment Management LLC increased its position in Riley Exploration Permian by 42.8% in the second quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock worth $7,140,000 after buying an additional 75,650 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Riley Exploration Permian by 95.5% in the second quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock worth $3,935,000 after buying an additional 67,900 shares during the period. Hedge funds and other institutional investors own 58.91% of the company’s stock.

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.