Riley Exploration Permian (NYSE:REPX) Price Target Raised to $47.00

Riley Exploration Permian (NYSE:REPX) had its price target boosted by stock analysts at Truist Financial from $45.00 to $47.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 37.43% from the company’s previous close.

Riley Exploration Permian Price Performance

Shares of NYSE REPX traded up $1.02 during midday trading on Monday, reaching $34.20. 13,747 shares of the company were exchanged, compared to its average volume of 75,753. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. Riley Exploration Permian has a one year low of $21.27 and a one year high of $37.15. The stock has a market cap of $734.72 million, a P/E ratio of 6.06 and a beta of 1.46. The stock’s 50-day moving average price is $32.77 and its 200-day moving average price is $29.43.

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 1,310 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $35.17, for a total transaction of $46,072.70. Following the transaction, the chief executive officer now owns 311,375 shares in the company, valued at approximately $10,951,058.75. This represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new stake in Riley Exploration Permian in the 2nd quarter worth approximately $4,392,000. AQR Capital Management LLC bought a new stake in Riley Exploration Permian in the 2nd quarter worth $3,723,000. Marshall Wace LLP bought a new stake in Riley Exploration Permian in the 2nd quarter worth $2,396,000. First Eagle Investment Management LLC grew its holdings in Riley Exploration Permian by 42.8% in the 2nd 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 last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Riley Exploration Permian by 95.5% during the 2nd quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock valued at $3,935,000 after purchasing an additional 67,900 shares in the last quarter. Institutional investors and hedge funds own 58.91% of the company’s stock.

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.