Riley Exploration Permian (NYSE:REPX) Shares Up 5% – Here’s Why

Riley Exploration Permian, Inc. (NYSE:REPX) shot up 5% during trading on Thursday . The company traded as high as $29.25 and last traded at $29.36. 56,520 shares traded hands during trading, a decline of 54% from the average session volume of 123,358 shares. The stock had previously closed at $27.97.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their price target on Riley Exploration Permian from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.

Riley Exploration Permian Stock Performance

The firm has a market capitalization of $607.54 million, a P/E ratio of 5.01 and a beta of 1.58. The stock has a 50-day moving average of $33.28 and a 200 day moving average of $30.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Riley Exploration Permian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, January 23rd. Riley Exploration Permian’s dividend payout ratio is 26.95%.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.37, for a total transaction of $500,550.00. Following the transaction, the chief executive officer now owns 296,375 shares of the company’s stock, valued at approximately $9,890,033.75. This represents a 4.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC acquired a new stake in Riley Exploration Permian during the 3rd quarter worth $223,000. Victory Capital Management Inc. raised its stake in Riley Exploration Permian by 61.0% during the 3rd quarter. Victory Capital Management Inc. now owns 39,091 shares of the company’s stock worth $1,036,000 after buying an additional 14,810 shares during the period. Empowered Funds LLC raised its stake in Riley Exploration Permian by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 29,566 shares of the company’s stock worth $783,000 after buying an additional 1,474 shares during the period. Quest Partners LLC increased its holdings in Riley Exploration Permian by 135.0% during the 3rd quarter. Quest Partners LLC now owns 8,967 shares of the company’s stock worth $238,000 after purchasing an additional 5,152 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Riley Exploration Permian during the 3rd quarter worth about $1,592,000. 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.