Riley Exploration Permian (NYSE:REPX) Hits New 52-Week High – Time to Buy?

Riley Exploration Permian, Inc. (NYSE:REPXGet Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.20 and last traded at $36.95, with a volume of 28880 shares. The stock had previously closed at $36.84.

Wall Street Analyst Weigh In

Separately, Truist Financial upped their price objective on shares of Riley Exploration Permian from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday.

Check Out Our Latest Research Report on Riley Exploration Permian

Riley Exploration Permian Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market cap of $796.05 million, a price-to-earnings ratio of 6.57 and a beta of 1.46. The business’s 50 day moving average is $33.32 and its 200 day moving average is $29.62.

Riley Exploration Permian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, January 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.10%. Riley Exploration Permian’s dividend payout ratio is 26.95%.

Insider Activity at Riley Exploration Permian

In related news, CEO Bobby Riley sold 1,310 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $35.17, for a total transaction of $46,072.70. Following the transaction, the chief executive officer now directly owns 311,375 shares of the company’s stock, valued at approximately $10,951,058.75. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors have recently modified their holdings of REPX. Ariadne Wealth Management LP acquired a new position in shares of Riley Exploration Permian in the second quarter worth $36,000. Copeland Capital Management LLC acquired a new position in Riley Exploration Permian in the 3rd quarter worth about $48,000. Point72 DIFC Ltd purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter worth about $51,000. CWM LLC lifted its holdings in shares of Riley Exploration Permian by 115.9% during the 3rd quarter. CWM LLC now owns 2,677 shares of the company’s stock valued at $71,000 after buying an additional 1,437 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at approximately $108,000. Institutional investors and hedge funds own 58.91% of the company’s stock.

About Riley Exploration Permian

(Get Free Report)

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.

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