Riley Exploration Permian (NYSE:REPX) Hits New 1-Year High – Here’s What Happened

Riley Exploration Permian, Inc. (NYSE:REPX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.20 and last traded at $36.95, with a volume of 28880 shares. The stock had previously closed at $36.84.

Analyst Ratings Changes

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

Riley Exploration Permian Stock Performance

The stock has a 50 day moving average of $33.40 and a two-hundred day moving average of $29.70. The stock has a market capitalization of $797.34 million, a PE ratio of 6.20 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64.

Riley Exploration Permian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $1.52 annualized dividend and a dividend yield of 4.09%. Riley Exploration Permian’s payout ratio is currently 26.95%.

Insider Activity

In other news, CEO Bobby Riley sold 4,636 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 321,739 shares of the company’s stock, valued at $11,321,995.41. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riley Exploration Permian

Hedge funds have recently bought and sold shares of the company. Inspire Investing LLC purchased a new position in shares of Riley Exploration Permian in the fourth quarter valued at $874,000. SG Americas Securities LLC grew its stake in Riley Exploration Permian by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 5,100 shares of the company’s stock valued at $163,000 after acquiring an additional 1,010 shares during the last quarter. Hamilton Lane Advisors LLC acquired a new stake in Riley Exploration Permian in the 4th quarter valued at about $254,000. CWA Asset Management Group LLC increased its holdings in Riley Exploration Permian by 25.2% during the 4th quarter. CWA Asset Management Group LLC now owns 10,545 shares of the company’s stock valued at $337,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Barclays PLC raised its position in Riley Exploration Permian by 167.2% during the third quarter. Barclays PLC now owns 17,574 shares of the company’s stock worth $464,000 after acquiring an additional 10,997 shares during the last quarter. 58.91% of the stock is owned by hedge funds and other 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.