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

Riley Exploration Permian (NYSE:REPX) had its price objective increased by Truist Financial from $45.00 to $47.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Price Performance

REPX stock opened at $34.57 on Monday. The firm has a 50 day simple moving average of $32.93 and a two-hundred day simple moving average of $29.47. The stock has a market cap of $742.67 million, a PE ratio of 6.13 and a beta of 1.46. Riley Exploration Permian has a one year low of $21.27 and a one year high of $37.15. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 23rd will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $1.52 dividend on an annualized basis and a yield of 4.40%. Riley Exploration Permian’s dividend payout ratio is presently 26.95%.

Insiders Place Their Bets

In related news, CEO Bobby Riley sold 1,310 shares of Riley Exploration Permian stock in a transaction on Friday, November 29th. The shares were sold at an average price of $35.17, for a total value of $46,072.70. Following the transaction, the chief executive officer now owns 311,375 shares in the company, valued at $10,951,058.75. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

Several institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its position in Riley Exploration Permian by 42.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock worth $7,140,000 after acquiring an additional 75,650 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Riley Exploration Permian by 20.8% in the third quarter. Geode Capital Management LLC now owns 237,996 shares of the company’s stock worth $6,306,000 after purchasing an additional 41,020 shares during the last quarter. State Street Corp increased its stake in shares of Riley Exploration Permian by 2.5% in the third quarter. State Street Corp now owns 200,881 shares of the company’s stock worth $5,321,000 after buying an additional 4,927 shares during the period. American Century Companies Inc. raised its holdings in Riley Exploration Permian by 65.0% during the 2nd quarter. American Century Companies Inc. now owns 167,972 shares of the company’s stock valued at $4,755,000 after buying an additional 66,179 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $4,392,000. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

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.