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

Riley Exploration Permian (NYSE:REPX) had its price objective reduced by Truist Financial from $45.00 to $38.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Riley Exploration Permian Price Performance

Shares of NYSE REPX opened at $27.91 on Monday. The firm’s 50 day simple moving average is $26.99 and its 200-day simple moving average is $27.82. The stock has a market capitalization of $601.29 million, a price-to-earnings ratio of 5.67 and a beta of 1.33. Riley Exploration Permian has a 12 month low of $21.27 and a 12 month high of $34.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58.

Riley Exploration Permian (NYSE:REPX) last announced its earnings results on Wednesday, August 7th. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $106.62 million. Analysts expect that Riley Exploration Permian will post 6.62 EPS for the current year.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Thursday, July 25th. Riley Exploration Permian’s dividend payout ratio is currently 29.27%.

Insider Activity at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $26.52, for a total transaction of $167,129.04. Following the completion of the transaction, the chief executive officer now directly owns 335,356 shares in the company, valued at approximately $8,893,641.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 30,283 shares of company stock worth $825,036. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riley Exploration Permian

Several large investors have recently made changes to their positions in REPX. CWM LLC raised its holdings in shares of 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 buying an additional 1,144 shares during the period. Ariadne Wealth Management LP purchased a new stake in Riley Exploration Permian in the 2nd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Riley Exploration Permian during the 2nd quarter worth $39,000. Point72 DIFC Ltd purchased a new position in Riley Exploration Permian during the 2nd quarter worth $51,000. Finally, Quest Partners LLC lifted its position in Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock worth $108,000 after acquiring an additional 1,062 shares during the period. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.