Riley Exploration Permian (NYSE:REPX) Shares Gap Up to $25.58

Riley Exploration Permian, Inc. (NYSE:REPXGet Rating) shares gapped up before the market opened on Tuesday . The stock had previously closed at $25.58, but opened at $27.10. Riley Exploration Permian shares last traded at $27.10, with a volume of 13 shares traded.

Separately, Truist Financial decreased their target price on Riley Exploration Permian from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, May 16th.

The stock has a market cap of $535.79 million, a price-to-earnings ratio of 8.31 and a beta of 0.90. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $25.36 and a 200-day moving average of $25.10.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Thursday, April 21st were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, April 20th. This represents a $1.24 dividend on an annualized basis and a yield of 4.52%. Riley Exploration Permian’s payout ratio is 387.51%.

In other Riley Exploration Permian news, Director Bryan H. Lawrence sold 35,150 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $24.49, for a total transaction of $860,823.50. Following the transaction, the director now directly owns 180,634 shares in the company, valued at $4,423,726.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bryan H. Lawrence sold 109,758 shares of Riley Exploration Permian stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $23.75, for a total value of $2,606,752.50. Following the completion of the transaction, the director now owns 4,786 shares in the company, valued at $113,667.50. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Yorktown Energy Partners V LP acquired a new position in shares of Riley Exploration Permian in the 4th quarter worth approximately $11,897,000. BlackRock Inc. raised its position in Riley Exploration Permian by 248.5% in the 1st quarter. BlackRock Inc. now owns 531,585 shares of the company’s stock worth $13,332,000 after purchasing an additional 379,047 shares during the last quarter. Jackson Hole Capital Partners LLC raised its position in Riley Exploration Permian by 8.1% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 373,287 shares of the company’s stock worth $9,362,000 after purchasing an additional 27,948 shares during the last quarter. Bank of New York Mellon Corp raised its position in Riley Exploration Permian by 13.7% in the 1st quarter. Bank of New York Mellon Corp now owns 204,226 shares of the company’s stock worth $5,122,000 after purchasing an additional 24,588 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Riley Exploration Permian by 61.5% in the 1st quarter. Vanguard Group Inc. now owns 111,796 shares of the company’s stock worth $2,804,000 after purchasing an additional 42,570 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Riley Exploration Permian Company Profile (NYSE:REPX)

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 San Andres Formation, a shelf margin deposit on the Central Basin Platform and Northwest Shelf.

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