Riley Exploration Permian (NYSE:REPX) Stock Price Up 4.2% – Still a Buy?

Riley Exploration Permian, Inc. (NYSE:REPX)’s share price traded up 4.2% on Monday . The stock traded as high as $31.92 and last traded at $31.92. 20,519 shares traded hands during trading, a decline of 83% from the average session volume of 123,183 shares. The stock had previously closed at $30.63.

Wall Street Analysts Forecast Growth

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

Riley Exploration Permian Trading Up 0.4 %

The stock’s fifty day moving average price is $31.78 and its 200 day moving average price is $29.11. The stock has a market cap of $685.74 million, a P/E ratio of 5.66 and a beta of 1.42. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Thursday, October 24th. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s dividend payout ratio is 26.95%.

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 1,310 shares of Riley Exploration Permian stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $35.17, for a total value of $46,072.70. Following the completion of the transaction, the chief executive officer now owns 311,375 shares of the company’s stock, valued at $10,951,058.75. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

A number of institutional investors and hedge funds have recently bought and sold shares of REPX. Koss Olinger Consulting LLC grew its holdings in shares of Riley Exploration Permian by 2.3% during the third quarter. Koss Olinger Consulting LLC now owns 18,326 shares of the company’s stock valued at $485,000 after buying an additional 409 shares during the last quarter. Quest Partners LLC lifted its position in Riley Exploration Permian by 38.6% in the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after acquiring an additional 1,062 shares in the last quarter. Ariadne Wealth Management LP purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Riley Exploration Permian in the 2nd quarter worth $39,000. Finally, CWM LLC raised its stake in shares of Riley Exploration Permian by 115.9% in the third quarter. CWM LLC now owns 2,677 shares of the company’s stock worth $71,000 after purchasing an additional 1,437 shares during the last quarter. 58.91% of the stock is currently owned by institutional investors.

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.