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

Riley Exploration Permian (NYSE:REPX) had its price objective boosted by Truist Financial from $40.00 to $45.00 in a research note issued to investors on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Trading Down 1.3 %

NYSE REPX traded down $0.44 during mid-day trading on Thursday, hitting $34.20. The company’s stock had a trading volume of 87,435 shares, compared to its average volume of 125,638. The firm has a market capitalization of $734.72 million, a P/E ratio of 6.17 and a beta of 1.34. The stock’s fifty day simple moving average is $27.82 and its two-hundred day simple moving average is $27.55. Riley Exploration Permian has a 52-week low of $21.27 and a 52-week high of $35.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64.

Riley Exploration Permian Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were given a $0.38 dividend. The ex-dividend date was Thursday, October 24th. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 4.44%. Riley Exploration Permian’s payout ratio is 26.95%.

Insider Buying and Selling 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 completion of the sale, the chief executive officer now directly owns 335,356 shares in the company, valued at $8,893,641.12. This trade represents a 1.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

Several institutional investors and hedge funds have recently modified their holdings of the business. Koss Olinger Consulting LLC increased its position in Riley Exploration Permian by 2.3% in the third quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock worth $485,000 after buying an additional 409 shares during the last quarter. Quest Partners LLC increased its holdings 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 purchasing an additional 1,062 shares during the period. CWM LLC grew its holdings in shares of Riley Exploration Permian by 1,191.7% during the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after acquiring an additional 1,144 shares during the period. Ariadne Wealth Management LP purchased a new position in shares of Riley Exploration Permian during the 2nd quarter worth approximately $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Riley Exploration Permian in the 2nd quarter worth approximately $39,000. 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.