Riley Exploration Permian (NYSE:REPX) Hits New 52-Week High on Analyst Upgrade

Riley Exploration Permian, Inc. (NYSE:REPX)’s share price reached a new 52-week high during trading on Friday after Truist Financial raised their price target on the stock from $40.00 to $45.00. Truist Financial currently has a buy rating on the stock. Riley Exploration Permian traded as high as $35.00 and last traded at $34.95, with a volume of 19909 shares. The stock had previously closed at $34.64.

Insider Buying and Selling

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

Institutional Trading of Riley Exploration Permian

Several institutional investors and hedge funds have recently modified their holdings of REPX. Russell Investments Group Ltd. boosted its position in Riley Exploration Permian by 785.9% in the first quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock valued at $151,000 after buying an additional 4,055 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Riley Exploration Permian during the 1st quarter worth $290,000. Hillsdale Investment Management Inc. bought a new stake in Riley Exploration Permian during the 1st quarter worth $640,000. Keeley Teton Advisors LLC acquired a new position in Riley Exploration Permian in the 1st quarter worth about $454,000. Finally, CWM LLC raised its position in Riley Exploration Permian by 1,191.7% in the second quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after purchasing an additional 1,144 shares during the last quarter. 58.91% of the stock is currently owned by institutional investors.

Riley Exploration Permian Stock Down 0.7 %

The stock has a market capitalization of $739.02 million, a price-to-earnings ratio of 6.08 and a beta of 1.34. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $27.99 and a 200 day moving average price of $27.60.

Riley Exploration Permian Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.42%. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, October 24th. Riley Exploration Permian’s payout ratio is presently 26.95%.

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.