Truist Financial Issues Positive Forecast for Riley Exploration Permian (NYSE:REPX) Stock Price

Riley Exploration Permian (NYSE:REPX) had its target price raised by research analysts at Truist Financial from $38.00 to $40.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 19.80% from the stock’s previous close.

Riley Exploration Permian Stock Up 4.3 %

Shares of REPX stock opened at $33.39 on Friday. Riley Exploration Permian has a 1 year low of $21.27 and a 1 year high of $34.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.70. The business’s fifty day moving average is $27.45 and its 200-day moving average is $27.41. The stock has a market cap of $717.22 million, a PE ratio of 6.24 and a beta of 1.34.

Riley Exploration Permian (NYSE:REPX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 23.82% and a net margin of 28.48%. Equities analysts expect that Riley Exploration Permian will post 6.37 earnings per share for the current fiscal year.

Insider Transactions at Riley Exploration Permian

In related news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $26.52, for a total value of $167,129.04. Following the transaction, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by insiders.

Institutional Trading of Riley Exploration Permian

Several large investors have recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC grew its holdings in shares of Riley Exploration Permian by 2.3% during the third quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock valued at $485,000 after buying an additional 409 shares in the last quarter. Quest Partners LLC grew its stake in Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after acquiring an additional 1,062 shares in the last quarter. CWM LLC increased its holdings 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 purchasing an additional 1,144 shares during the period. Ariadne Wealth Management LP purchased a new stake in shares of Riley Exploration Permian in the second quarter worth approximately $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Riley Exploration Permian during the second quarter worth approximately $39,000. 58.91% of the stock is owned by institutional investors and hedge funds.

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.