Riley Exploration Permian (NYSE:REPX) PT Lowered to $48.00 at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its target price decreased by Truist Financial from $51.00 to $48.00 in a research note issued to investors on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Price Performance

REPX stock opened at $26.28 on Monday. The firm has a market cap of $641.49 million, a P/E ratio of 4.71 and a beta of 1.32. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $28.40 and its two-hundred day moving average price is $26.58. Riley Exploration Permian has a 12 month low of $21.27 and a 12 month high of $41.25.

Riley Exploration Permian (NYSE:REPX) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.91). The company had revenue of $99.83 million for the quarter, compared to the consensus estimate of $94.77 million. Riley Exploration Permian had a net margin of 29.75% and a return on equity of 25.08%. On average, analysts anticipate that Riley Exploration Permian will post 7.14 earnings per share for the current fiscal year.

Riley Exploration Permian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Wednesday, April 24th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 25.81%.

Insider Activity at Riley Exploration Permian

In related news, major shareholder Alvin Gerald Libin purchased 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were bought at an average cost of $27.00 per share, with a total value of $2,025,000.00. Following the acquisition, the insider now owns 2,194,921 shares of the company’s stock, valued at approximately $59,262,867. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Riley Exploration Permian news, major shareholder Alvin Gerald Libin bought 75,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were acquired at an average cost of $27.00 per share, for a total transaction of $2,025,000.00. Following the transaction, the insider now directly owns 2,194,921 shares in the company, valued at $59,262,867. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.21, for a total transaction of $423,150.00. Following the sale, the chief executive officer now owns 364,198 shares in the company, valued at $10,274,025.58. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC acquired a new position in shares of Riley Exploration Permian in the 3rd quarter worth approximately $999,000. Jackson Hole Capital Partners LLC lifted its position in shares of Riley Exploration Permian by 17.4% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 449,925 shares of the company’s stock worth $12,256,000 after purchasing an additional 66,621 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Riley Exploration Permian in the 3rd quarter worth approximately $383,000. CWA Asset Management Group LLC lifted its position in shares of Riley Exploration Permian by 27.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 16,790 shares of the company’s stock worth $534,000 after purchasing an additional 3,567 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Riley Exploration Permian by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 166,650 shares of the company’s stock worth $5,298,000 after purchasing an additional 2,408 shares during the period. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.