Riley Exploration Permian (NYSE:REPX) Shares Up 5% – Here’s Why

Shares of Riley Exploration Permian, Inc. (NYSE:REPX) were up 5% during mid-day trading on Thursday . The company traded as high as $29.25 and last traded at $29.36. Approximately 56,520 shares were traded during trading, a decline of 54% from the average daily volume of 123,358 shares. The stock had previously closed at $27.97.

Wall Street Analysts Forecast Growth

Separately, Truist Financial increased their target price on Riley Exploration Permian from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

Riley Exploration Permian Price Performance

The company has a market cap of $607.54 million, a P/E ratio of 5.01 and a beta of 1.58. The company has a fifty day moving average price of $33.28 and a two-hundred day moving average price of $30.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Riley Exploration Permian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Thursday, January 23rd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 5.37%. The ex-dividend date was Thursday, January 23rd. Riley Exploration Permian’s payout ratio is 26.95%.

Insider Activity

In related news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.37, for a total transaction of $500,550.00. Following the completion of the transaction, the chief executive officer now owns 296,375 shares in the company, valued at approximately $9,890,033.75. This trade represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in REPX. CWA Asset Management Group LLC bought a new position in Riley Exploration Permian in the third quarter valued at approximately $223,000. Victory Capital Management Inc. increased its stake in Riley Exploration Permian by 61.0% in the third quarter. Victory Capital Management Inc. now owns 39,091 shares of the company’s stock valued at $1,036,000 after acquiring an additional 14,810 shares during the last quarter. Empowered Funds LLC increased its stake in Riley Exploration Permian by 5.2% in the third quarter. Empowered Funds LLC now owns 29,566 shares of the company’s stock valued at $783,000 after acquiring an additional 1,474 shares during the last quarter. Quest Partners LLC increased its stake in Riley Exploration Permian by 135.0% in the third quarter. Quest Partners LLC now owns 8,967 shares of the company’s stock valued at $238,000 after acquiring an additional 5,152 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Riley Exploration Permian in the third quarter valued at approximately $1,592,000. 58.91% of the stock is owned by institutional investors.

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.