Truist Financial Cuts Riley Exploration Permian (NYSE:REPX) Price Target to $45.00

Riley Exploration Permian (NYSE:REPX) had its target price cut by Truist Financial from $48.00 to $45.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Riley Exploration Permian Price Performance

NYSE REPX opened at $28.75 on Monday. The stock’s 50-day moving average price is $27.83 and its two-hundred day moving average price is $26.65. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 0.74. The company has a market cap of $619.28 million, a PE ratio of 5.59 and a beta of 1.36. Riley Exploration Permian has a 1 year low of $21.27 and a 1 year high of $38.00.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.11. The firm had revenue of $99.74 million for the quarter, compared to the consensus estimate of $96.65 million. Riley Exploration Permian had a return on equity of 25.64% and a net margin of 24.16%. On average, analysts predict that Riley Exploration Permian will post 6.47 EPS for the current year.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.01%. Riley Exploration Permian’s dividend payout ratio is 29.27%.

Insider Activity

In other news, CEO Bobby Riley sold 10,020 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $26.57, for a total value of $266,231.40. Following the transaction, the chief executive officer now owns 381,658 shares in the company, valued at approximately $10,140,653.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Bobby Riley sold 10,020 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $26.57, for a total value of $266,231.40. Following the transaction, the chief executive officer now owns 381,658 shares in the company, valued at approximately $10,140,653.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Corey Neil Riley sold 2,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $26.61, for a total value of $66,525.00. Following the completion of the transaction, the insider now owns 146,837 shares in the company, valued at approximately $3,907,332.57. The disclosure for this sale can be found here. Insiders have sold 27,520 shares of company stock worth $752,756 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

Large investors have recently made changes to their positions in the company. Strs Ohio grew its stake in shares of Riley Exploration Permian by 300.0% in the 4th quarter. Strs Ohio now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 900 shares in the last quarter. CWM LLC grew its stake in shares of Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after buying an additional 1,144 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Riley Exploration Permian by 92.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock valued at $55,000 after buying an additional 962 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Riley Exploration Permian by 785.9% in the 1st 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. Finally, Jump Financial LLC bought a new stake in Riley Exploration Permian during the fourth quarter worth approximately $248,000. Institutional investors own 58.91% of the company’s stock.

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.