Truist Financial Lowers Riley Exploration Permian (NYSE:REPX) Price Target to $48.00

Riley Exploration Permian (NYSE:REPX) had its target price cut by Truist Financial from $51.00 to $48.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Riley Exploration Permian Trading Down 0.1 %

REPX opened at $26.28 on Monday. Riley Exploration Permian has a 12 month low of $21.27 and a 12 month high of $41.25. The stock has a fifty day moving average price of $28.40 and a 200-day moving average price of $26.58. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.80. The firm has a market cap of $641.49 million, a price-to-earnings ratio of 4.71 and a beta of 1.32.

Riley Exploration Permian (NYSE:REPX) last announced its earnings results on Wednesday, March 6th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.91). Riley Exploration Permian had a return on equity of 25.08% and a net margin of 29.75%. The business had revenue of $99.83 million for the quarter, compared to analysts’ expectations of $94.77 million. As a group, equities research analysts anticipate that Riley Exploration Permian will post 7.14 earnings per share for the current fiscal year.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.44 annualized dividend and a yield of 5.48%. Riley Exploration Permian’s dividend payout ratio (DPR) is 25.81%.

Insider Buying and Selling

In related news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the transaction, the insider now directly owns 4,521,767 shares in the company, valued at approximately $115,395,493.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Riley Exploration Permian news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the sale, the insider now owns 4,521,767 shares in the company, valued at approximately $115,395,493.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bobby Riley sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.21, for a total value of $423,150.00. Following the sale, the chief executive officer now owns 364,198 shares in the company, valued at approximately $10,274,025.58. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Institutional Trading of Riley Exploration Permian

Several large investors have recently added to or reduced their stakes in REPX. Kennedy Capital Management LLC boosted its stake in shares of Riley Exploration Permian by 0.4% in the third quarter. Kennedy Capital Management LLC now owns 106,795 shares of the company’s stock worth $3,395,000 after buying an additional 405 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Riley Exploration Permian in the third quarter worth about $25,000. Strs Ohio boosted its stake in shares of Riley Exploration Permian by 300.0% in the fourth quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 900 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Riley Exploration Permian by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock worth $55,000 after buying an additional 962 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its stake in shares of Riley Exploration Permian by 18.0% in the fourth quarter. Navellier & Associates Inc. now owns 12,322 shares of the company’s stock worth $336,000 after buying an additional 1,878 shares during the last quarter. Hedge funds and other institutional investors own 58.91% of the company’s stock.

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.