Riley Exploration Permian (NYSE:REPX) Given New $45.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price objective increased by Truist Financial from $40.00 to $45.00 in a research note published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Riley Exploration Permian Trading Down 1.3 %

NYSE REPX traded down $0.44 during trading on Thursday, hitting $34.20. The stock had a trading volume of 87,435 shares, compared to its average volume of 125,638. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market capitalization of $734.72 million, a price-to-earnings ratio of 6.17 and a beta of 1.34. The stock has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $27.55. Riley Exploration Permian has a one year low of $21.27 and a one year high of $35.40.

Riley Exploration Permian Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, October 24th. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.44%. Riley Exploration Permian’s dividend payout ratio is presently 26.95%.

Insider Activity at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $26.52, for a total transaction of $167,129.04. Following the sale, the chief executive officer now directly owns 335,356 shares of the company’s stock, valued at $8,893,641.12. This represents a 1.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of REPX. CWM LLC boosted its position 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 buying an additional 1,144 shares during the period. Ariadne Wealth Management LP acquired a new position in Riley Exploration Permian in the second quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Riley Exploration Permian in the second quarter valued at $39,000. Copeland Capital Management LLC purchased a new stake in shares of Riley Exploration Permian in the third quarter valued at about $48,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Riley Exploration Permian in the second quarter valued at about $51,000. 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.