Riley Exploration Permian (NYSE:REPX) Stock Price Expected to Rise, Truist Financial Analyst Says

Riley Exploration Permian (NYSE:REPX) had its price target upped by Truist Financial from $40.00 to $45.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Riley Exploration Permian Trading Down 1.0 %

Shares of NYSE:REPX opened at $34.29 on Thursday. Riley Exploration Permian has a 52-week low of $21.27 and a 52-week high of $35.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $736.55 million, a P/E ratio of 6.08 and a beta of 1.34. The company has a 50-day simple moving average of $28.17 and a 200 day simple moving average of $27.65.

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 dividend of $0.38 per share. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Thursday, October 24th. Riley Exploration Permian’s payout ratio is currently 26.95%.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $26.52, for a total transaction of $167,129.04. Following the completion of the sale, the chief executive officer now owns 335,356 shares of the company’s stock, valued at approximately $8,893,641.12. The trade was a 1.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Several hedge funds have recently bought and sold shares of the stock. Koss Olinger Consulting LLC grew its position in shares of Riley Exploration Permian by 2.3% in the third quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock valued at $485,000 after purchasing an additional 409 shares during the last quarter. Quest Partners LLC boosted its stake in Riley Exploration Permian by 38.6% in the 2nd 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 during the period. CWM LLC grew its holdings in Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after buying an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP bought a new position in Riley Exploration Permian during the 2nd quarter worth $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Riley Exploration Permian during the second quarter worth $39,000. 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.