Riley Exploration Permian (NYSE:REPX) Shares Up 4.2% – Still a Buy?

Riley Exploration Permian, Inc. (NYSE:REPX) rose 4.2% on Monday . The company traded as high as $31.92 and last traded at $31.92. Approximately 20,519 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 123,183 shares. The stock had previously closed at $30.63.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their target price on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

Riley Exploration Permian Price Performance

The company has a market capitalization of $679.51 million, a price-to-earnings ratio of 5.61 and a beta of 1.42. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $31.61 and a 200 day moving average price of $29.04.

Riley Exploration Permian Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Thursday, October 24th. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s dividend payout ratio (DPR) is 26.95%.

Insider Transactions at Riley Exploration Permian

In related news, CEO Bobby Riley sold 4,636 shares of Riley Exploration Permian stock in a transaction on Tuesday, November 26th. The stock was 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 of the company’s stock, valued at $11,321,995.41. The trade was a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 14,927 shares of company stock worth $447,120 in the last quarter. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Several large investors have recently bought and sold shares of REPX. Martingale Asset Management L P grew its holdings in shares of Riley Exploration Permian by 292.1% in the 3rd quarter. Martingale Asset Management L P now owns 28,621 shares of the company’s stock valued at $758,000 after buying an additional 21,321 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Riley Exploration Permian by 61.0% in the third quarter. Victory Capital Management Inc. now owns 39,091 shares of the company’s stock worth $1,036,000 after acquiring an additional 14,810 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Riley Exploration Permian by 95.5% during the second 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 period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Riley Exploration Permian by 48.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,353 shares of the company’s stock valued at $3,215,000 after purchasing an additional 39,759 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Riley Exploration Permian in the 2nd quarter valued at approximately $1,856,000. Institutional investors own 58.91% of the company’s stock.

Riley Exploration Permian Company Profile

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.