Riley Exploration Permian (NYSE:REPX) Stock Price Up 4.4%

Riley Exploration Permian, Inc. (NYSE:REPX)’s share price shot up 4.4% on Wednesday . The company traded as high as $28.75 and last traded at $28.66. 160,053 shares traded hands during trading, an increase of 17% from the average session volume of 136,218 shares. The stock had previously closed at $27.45.

Analysts Set New Price Targets

Separately, Truist Financial dropped their target price on Riley Exploration Permian from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, May 6th.

Riley Exploration Permian Stock Performance

The stock’s 50-day moving average is $28.24 and its 200 day moving average is $26.19. The stock has a market cap of $612.81 million, a price-to-earnings ratio of 5.58 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.59 and a quick ratio of 0.53.

Riley Exploration Permian (NYSE:REPX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.50 by $0.11. The firm had revenue of $99.74 million during the quarter, compared to analysts’ expectations of $96.65 million. Riley Exploration Permian had a net margin of 24.16% and a return on equity of 25.64%. As a group, analysts predict that Riley Exploration Permian, Inc. will post 6.87 earnings per share for the current fiscal year.

Riley Exploration Permian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were given a $0.36 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $1.44 annualized dividend and a dividend yield of 5.06%. Riley Exploration Permian’s dividend payout ratio is presently 29.27%.

Insider Buying and Selling at Riley Exploration Permian

In related news, 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 purchased at an average price of $27.00 per share, for a total transaction of $2,025,000.00. Following the transaction, the insider now owns 2,194,921 shares in the company, valued at approximately $59,262,867. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian 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 completion of the sale, the chief executive officer now owns 364,198 shares of the company’s stock, valued at $10,274,025.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Alvin Gerald Libin acquired 75,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were bought at an average price of $27.00 per share, for a total transaction of $2,025,000.00. Following the completion of the acquisition, the insider now owns 2,194,921 shares in the company, valued at $59,262,867. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

Institutional investors and hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC acquired a new stake in shares of Riley Exploration Permian in the fourth quarter worth $2,714,000. Jackson Hole Capital Partners LLC increased its holdings in Riley Exploration Permian by 17.4% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 449,925 shares of the company’s stock valued at $12,256,000 after purchasing an additional 66,621 shares in the last quarter. Algert Global LLC purchased a new position in Riley Exploration Permian in the third quarter valued at about $999,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Riley Exploration Permian in the first quarter worth about $640,000. Finally, Keeley Teton Advisors LLC acquired a new stake in shares of Riley Exploration Permian in the first quarter valued at about $454,000. 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.