Riley Exploration Permian (NYSE:REPX) Price Target Cut to $48.00 by Analysts at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price objective lowered by Truist Financial from $51.00 to $48.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Price Performance

Shares of Riley Exploration Permian stock opened at $25.76 on Monday. The stock has a market capitalization of $628.80 million, a price-to-earnings ratio of 5.08 and a beta of 1.32. The firm’s 50-day moving average price is $28.28 and its two-hundred day moving average price is $26.63. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.80. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $42.96.

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

Riley Exploration Permian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, April 25th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.59%. Riley Exploration Permian’s payout ratio is currently 25.81%.

Insider Activity

In related news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.21, for a total value of $423,150.00. Following the completion of the sale, the chief executive officer now directly owns 364,198 shares in the company, valued at $10,274,025.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Bobby Riley sold 15,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $28.21, for a total value of $423,150.00. Following the transaction, the chief executive officer now directly owns 364,198 shares in the company, valued at approximately $10,274,025.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Alvin Gerald Libin acquired 75,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was bought at an average price of $27.00 per share, with a total value of $2,025,000.00. Following the acquisition, the insider now directly owns 2,194,921 shares of the company’s stock, valued at approximately $59,262,867. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of REPX. Jackson Hole Capital Partners LLC raised its holdings in Riley Exploration Permian by 17.4% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 449,925 shares of the company’s stock worth $12,256,000 after purchasing an additional 66,621 shares during the period. Bank of New York Mellon Corp grew its stake in Riley Exploration Permian by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 166,650 shares of the company’s stock valued at $5,298,000 after acquiring an additional 2,408 shares during the period. PCG Wealth Advisors LLC increased its holdings in shares of Riley Exploration Permian by 3.2% in the fourth quarter. PCG Wealth Advisors LLC now owns 117,912 shares of the company’s stock worth $3,212,000 after acquiring an additional 3,680 shares in the last quarter. Kennedy Capital Management LLC increased its holdings 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 acquiring an additional 405 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Riley Exploration Permian during the fourth quarter worth about $2,714,000. 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.