Riley Exploration Permian (NYSE:REPX) Price Target Raised to $45.00

Riley Exploration Permian (NYSE:REPX) had its price target raised by Truist Financial from $40.00 to $45.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Riley Exploration Permian Stock Performance

REPX stock opened at $34.29 on Thursday. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $35.40. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The firm has a market cap of $736.55 million, a PE ratio of 6.08 and a beta of 1.34. The business’s 50-day moving average price is $28.17 and its two-hundred day moving average price is $27.65.

Riley Exploration Permian Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Thursday, October 24th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 4.43%. Riley Exploration Permian’s payout ratio is currently 26.95%.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian 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 sale, the chief executive officer now owns 335,356 shares of the company’s stock, valued at $8,893,641.12. This trade represents a 1.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CWM LLC lifted its stake in 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 acquiring an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP bought a new stake in shares of Riley Exploration Permian in the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Riley Exploration Permian during the second quarter worth $39,000. Copeland Capital Management LLC bought a new position in Riley Exploration Permian in the third quarter valued at $48,000. Finally, Point72 DIFC Ltd acquired a new stake in Riley Exploration Permian in the 2nd quarter valued at $51,000. 58.91% of the stock is currently owned by 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.