Riley Exploration Permian (NYSE:REPX) Hits New 52-Week High – Should You Buy?

Riley Exploration Permian, Inc. (NYSE:REPX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $35.75 and last traded at $35.71, with a volume of 9704 shares. The stock had previously closed at $35.12.

Wall Street Analyst Weigh In

Separately, Truist Financial upped their target price on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

Riley Exploration Permian Price Performance

The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $28.96 and its two-hundred day moving average price is $27.94. The stock has a market capitalization of $791.54 million, a PE ratio of 6.36 and a beta of 1.34.

Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.12%. 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. Riley Exploration Permian’s payout ratio is presently 26.95%.

Insider Activity

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 326,375 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Riley Exploration Permian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Riley Exploration Permian by 1,191.7% in the second quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after purchasing an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP purchased a new stake in shares of Riley Exploration Permian in the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Riley Exploration Permian in the second quarter worth $39,000. Copeland Capital Management LLC purchased a new stake in shares of Riley Exploration Permian in the third quarter worth $48,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Riley Exploration Permian in the second quarter worth $51,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

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.