Riley Exploration Permian (NYSE:REPX) Trading 5% Higher – Time to Buy?

Riley Exploration Permian, Inc. (NYSE:REPX)’s stock price traded up 5% on Thursday . The company traded as high as $29.25 and last traded at $29.36. 56,520 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 123,358 shares. The stock had previously closed at $27.97.

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted their target price on shares of Riley Exploration Permian from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, January 13th.

Riley Exploration Permian Stock Up 1.5 %

The stock has a market cap of $609.69 million, a PE ratio of 5.03 and a beta of 1.58. The business has a 50 day moving average price of $33.38 and a 200 day moving average price of $30.93. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, January 23rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.36%. Riley Exploration Permian’s payout ratio is 26.95%.

Insider Activity

In other news, CEO Bobby Riley sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.37, for a total transaction of $500,550.00. Following the sale, the chief executive officer now directly owns 296,375 shares in the company, valued at $9,890,033.75. This trade represents a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riley Exploration Permian

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new stake in shares of Riley Exploration Permian in the fourth quarter valued at approximately $33,000. Summit Investment Advisors Inc. increased its holdings in Riley Exploration Permian by 44.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,189 shares of the company’s stock worth $38,000 after acquiring an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Riley Exploration Permian in the 4th quarter worth $77,000. Travelers Companies Inc. acquired a new position in Riley Exploration Permian during the fourth quarter worth $80,000. Finally, Quantbot Technologies LP purchased a new position in Riley Exploration Permian during the fourth quarter valued at $110,000. 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.