Riley Exploration Permian (NYSE:REPX) Sets New 12-Month High – Still a Buy?

Riley Exploration Permian, Inc. (NYSE:REPX)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $35.75 and last traded at $35.71, with a volume of 9704 shares changing hands. The stock had previously closed at $35.12.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their price objective on Riley Exploration Permian from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

Riley Exploration Permian Stock Performance

The company has a market cap of $770.27 million, a PE ratio of 6.23 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The business has a 50-day moving average of $28.75 and a 200 day moving average of $27.88.

Riley Exploration Permian Increases Dividend

The business 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. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.52 dividend on an annualized basis and a yield of 4.24%. Riley Exploration Permian’s dividend payout ratio is presently 26.95%.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total value of $237,906.69. Following the completion of the sale, the chief executive officer now owns 326,375 shares in the company, valued at $8,645,673.75. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its stake in shares of Riley Exploration Permian by 42.8% in the second quarter. First Eagle Investment Management LLC now owns 252,214 shares of the company’s stock worth $7,140,000 after acquiring an additional 75,650 shares during the period. Geode Capital Management LLC boosted its stake in shares of Riley Exploration Permian by 20.8% in the third quarter. Geode Capital Management LLC now owns 237,996 shares of the company’s stock worth $6,306,000 after acquiring an additional 41,020 shares during the period. Bank of New York Mellon Corp boosted 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 worth $6,726,000 after acquiring an additional 16,267 shares during the period. State Street Corp boosted its stake in shares of Riley Exploration Permian by 2.5% in the third quarter. State Street Corp now owns 200,881 shares of the company’s stock worth $5,321,000 after acquiring an additional 4,927 shares during the period. Finally, American Century Companies Inc. boosted 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 worth $4,755,000 after acquiring an additional 66,179 shares during the period. Hedge funds and other 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.