Riley Exploration Permian (NYSE:REPX) Given New $38.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price target lowered by Truist Financial from $45.00 to $38.00 in a research note published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Trading Down 1.7 %

Shares of REPX stock opened at $26.56 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.58 and a current ratio of 0.63. Riley Exploration Permian has a 52-week low of $21.27 and a 52-week high of $34.90. The company has a market capitalization of $573.16 million, a PE ratio of 4.91 and a beta of 1.34. The business’s fifty day moving average is $27.16 and its 200 day moving average is $27.85.

Riley Exploration Permian (NYSE:REPX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. The business had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.62 million. On average, equities research analysts anticipate that Riley Exploration Permian will post 6.62 EPS for the current fiscal year.

Riley Exploration Permian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were given a $0.36 dividend. The ex-dividend date was Thursday, July 25th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.42%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 29.27%.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.00, for a total transaction of $420,000.00. Following the sale, the chief executive officer now owns 366,658 shares in the company, 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. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

A number of large investors have recently added to or reduced their stakes in the company. Quest Partners LLC raised its position in Riley Exploration Permian by 38.6% during the second quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after purchasing an additional 1,062 shares in the last quarter. CWM LLC grew its stake in shares of Riley Exploration Permian by 1,191.7% during the second quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after buying an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP bought a new position in shares of Riley Exploration Permian during the second quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Riley Exploration Permian during the second quarter valued at about $39,000. Finally, Point72 DIFC Ltd bought a new position in shares of Riley Exploration Permian during the second quarter valued at about $51,000. 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.