Truist Financial Lowers Riley Exploration Permian (NYSE:REPX) Price Target to $38.00

Riley Exploration Permian (NYSE:REPX) had its price target lowered by Truist Financial from $45.00 to $38.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 41.84% from the stock’s current price.

Riley Exploration Permian Stock Performance

REPX opened at $26.79 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.62. The company has a market cap of $578.13 million, a price-to-earnings ratio of 5.45 and a beta of 1.34. The company’s 50 day moving average is $27.10 and its 200 day moving average is $27.84. Riley Exploration Permian has a 12-month low of $21.27 and a 12-month high of $34.90.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). The business had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.62 million. Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. On average, equities research analysts predict that Riley Exploration Permian will post 6.62 EPS for the current year.

Insider Transactions at Riley Exploration Permian

In other news, CEO Bobby Riley sold 15,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the transaction, the chief executive officer now owns 366,658 shares of the company’s stock, valued at $10,266,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 30,283 shares of company stock valued at $825,036. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Several large investors have recently bought and sold shares of the business. First Eagle Investment Management LLC increased its position in Riley Exploration Permian by 42.8% during the second quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock valued at $7,140,000 after acquiring an additional 75,650 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Riley Exploration Permian by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 237,578 shares of the company’s stock valued at $6,726,000 after acquiring an additional 16,267 shares during the period. American Century Companies Inc. raised its stake in shares of Riley Exploration Permian by 65.0% in the second quarter. American Century Companies Inc. now owns 167,972 shares of the company’s stock valued at $4,755,000 after acquiring an additional 66,179 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Riley Exploration Permian in the second quarter valued at $4,392,000. Finally, Renaissance Technologies LLC raised its stake in shares of Riley Exploration Permian by 95.5% in the second quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock valued at $3,935,000 after acquiring an additional 67,900 shares during the period. 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.