Riley Exploration Permian (NYSE:REPX) Shares Up 4.2% – What’s Next?

Riley Exploration Permian, Inc. (NYSE:REPX)’s stock price was up 4.2% during trading on Monday . The company traded as high as $31.92 and last traded at $31.92. Approximately 20,519 shares were traded during trading, a decline of 83% from the average daily volume of 123,183 shares. The stock had previously closed at $30.63.

Wall Street Analyst Weigh In

Separately, Truist Financial upped their target price on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

Riley Exploration Permian Stock Performance

The firm has a market cap of $679.51 million, a price-to-earnings ratio of 5.61 and a beta of 1.42. The stock has a 50-day moving average of $31.61 and a 200-day moving average of $29.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Riley Exploration Permian Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.81%. Riley Exploration Permian’s dividend payout ratio (DPR) is 26.95%.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 14,927 shares of company stock valued at $447,120. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

Several institutional investors and hedge funds have recently added to or reduced their stakes in REPX. Ariadne Wealth Management LP bought a new position in shares of Riley Exploration Permian during the 2nd quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Riley Exploration Permian in the second quarter valued at $39,000. Point72 DIFC Ltd acquired a new position in shares of Riley Exploration Permian in the second quarter valued at $51,000. Copeland Capital Management LLC acquired a new stake in shares of Riley Exploration Permian during the 3rd quarter worth about $48,000. Finally, CWM LLC lifted its stake in shares of Riley Exploration Permian by 115.9% during the 3rd quarter. CWM LLC now owns 2,677 shares of the company’s stock worth $71,000 after buying an additional 1,437 shares during the last quarter. 58.91% of the stock is owned by 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.