Riley Exploration Permian (NYSE:REPX) PT Lowered to $38.00 at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price target cut by research analysts at Truist Financial from $45.00 to $38.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 42.06% from the company’s current price.

Riley Exploration Permian Stock Down 1.0 %

REPX stock traded down $0.27 during midday trading on Monday, reaching $26.75. 13,785 shares of the company’s stock traded hands, compared to its average volume of 130,540. Riley Exploration Permian has a 52 week low of $21.27 and a 52 week high of $34.90. The company has a market cap of $576.30 million, a price-to-earnings ratio of 5.44 and a beta of 1.34. The firm’s fifty day moving average price is $27.16 and its 200-day moving average price is $27.85. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.62.

Riley Exploration Permian (NYSE:REPX) last posted its earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). The business had revenue of $105.40 million during the quarter, compared to analyst estimates of $106.62 million. Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. As a group, sell-side analysts forecast that Riley Exploration Permian will post 6.62 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Bobby Riley sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now directly owns 366,658 shares of the company’s stock, valued at approximately $10,266,424. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors and hedge funds have recently modified their holdings of REPX. Point72 DIFC Ltd purchased a new stake in shares of Riley Exploration Permian in the second quarter worth $51,000. Ariadne Wealth Management LP purchased a new position in Riley Exploration Permian in the second quarter worth $36,000. Mackenzie Financial Corp bought a new position in Riley Exploration Permian in the second quarter valued at $4,392,000. AQR Capital Management LLC bought a new stake in Riley Exploration Permian during the second quarter worth about $3,723,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Riley Exploration Permian in the second quarter worth approximately $1,708,000. 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.