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

by · The Cerbat Gem

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

Riley Exploration Permian Price Performance

Riley Exploration Permian stock opened at $27.08 on Monday. The firm has a market cap of $584.39 million, a PE ratio of 5.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58. The stock’s fifty day moving average price is $27.05 and its two-hundred day moving average price is $27.82. Riley Exploration Permian has a one year low of $21.27 and a one year high of $34.90.

Riley Exploration Permian (NYSE:REPX – Get Free Report) last issued its quarterly 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). The company had revenue of $105.40 million during the quarter, compared to the consensus estimate of $106.62 million. Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. As a group, research analysts expect that Riley Exploration Permian will post 6.62 EPS for the current fiscal year.

Riley Exploration Permian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Thursday, July 25th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 29.27%.

Insider Buying and Selling

In other news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction on Friday, September 27th. The stock was sold at an average price of $26.52, for a total value of $167,129.04. Following the transaction, the chief executive officer now owns 335,356 shares in the company, valued at approximately $8,893,641.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 30,283 shares of company stock worth $825,036. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in 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 purchasing an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP bought a new position in shares of Riley Exploration Permian in the 2nd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Riley Exploration Permian in the 2nd quarter valued at $39,000. Point72 DIFC Ltd acquired a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at $51,000. Finally, Quest Partners LLC grew 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 last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

About Riley Exploration Permian

(Get Free Report)

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.

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