Riley Exploration Permian (NYSE:REPX) Sets New 1-Year High Following Analyst Upgrade

Riley Exploration Permian, Inc. (NYSE:REPX) shares hit a new 52-week high during mid-day trading on Friday after Truist Financial raised their price target on the stock from $40.00 to $45.00. Truist Financial currently has a buy rating on the stock. Riley Exploration Permian traded as high as $35.00 and last traded at $34.95, with a volume of 19909 shares traded. The stock had previously closed at $34.64.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 8,981 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total transaction of $237,906.69. Following the completion of the transaction, the chief executive officer now owns 326,375 shares in the company, valued at approximately $8,645,673.75. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Large investors have recently made changes to their positions in the stock. Barclays PLC raised its stake in Riley Exploration Permian by 167.2% in the 3rd quarter. Barclays PLC now owns 17,574 shares of the company’s stock valued at $464,000 after acquiring an additional 10,997 shares during the period. State Street Corp increased its holdings 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 valued at $5,321,000 after purchasing an additional 4,927 shares during the last quarter. ClearAlpha Technologies LP bought a new position in shares of Riley Exploration Permian in the third quarter valued at about $250,000. PDT Partners LLC lifted its stake in shares of Riley Exploration Permian by 86.7% during the 3rd quarter. PDT Partners LLC now owns 29,346 shares of the company’s stock worth $777,000 after buying an additional 13,627 shares during the last quarter. Finally, Martingale Asset Management L P boosted its holdings in shares of Riley Exploration Permian by 292.1% during the 3rd quarter. Martingale Asset Management L P now owns 28,621 shares of the company’s stock worth $758,000 after buying an additional 21,321 shares during the period. Institutional investors and hedge funds own 58.91% of the company’s stock.

Riley Exploration Permian Stock Performance

The firm has a market cap of $739.02 million, a price-to-earnings ratio of 6.08 and a beta of 1.34. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $27.99 and its 200 day moving average is $27.60.

Riley Exploration Permian Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Thursday, October 24th. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s payout ratio is presently 26.95%.

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.