Truist Financial Increases Riley Exploration Permian (NYSE:REPX) Price Target to $40.00

Riley Exploration Permian (NYSE:REPX) had its target price raised by Truist Financial from $38.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 22.93% from the company’s current price.

Riley Exploration Permian Price Performance

Shares of Riley Exploration Permian stock traded up $0.54 during trading on Friday, reaching $32.54. The company’s stock had a trading volume of 34,229 shares, compared to its average volume of 125,084. The stock has a 50-day moving average price of $27.35 and a two-hundred day moving average price of $27.38. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.62. Riley Exploration Permian has a one year low of $21.27 and a one year high of $34.90. The stock has a market capitalization of $702.21 million, a P/E ratio of 5.74 and a beta of 1.34.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.13). Riley Exploration Permian had a net margin of 28.48% and a return on equity of 24.60%. The business had revenue of $105.40 million during the quarter, compared to the consensus estimate of $106.62 million. As a group, sell-side analysts anticipate that Riley Exploration Permian will post 6.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Bobby Riley sold 6,302 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $26.52, for a total transaction of $167,129.04. Following the completion of the transaction, the chief executive officer now directly owns 335,356 shares in the company, valued at approximately $8,893,641.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riley Exploration Permian

Several institutional investors have recently modified their holdings of the stock. Quest Partners LLC grew its position in shares of Riley Exploration Permian by 135.0% during the 3rd quarter. Quest Partners LLC now owns 8,967 shares of the company’s stock worth $238,000 after buying an additional 5,152 shares during the period. Empowered Funds LLC lifted its holdings in shares of Riley Exploration Permian by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 29,566 shares of the company’s stock valued at $783,000 after purchasing an additional 1,474 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Riley Exploration Permian by 61.0% during the 3rd quarter. Victory Capital Management Inc. now owns 39,091 shares of the company’s stock valued at $1,036,000 after purchasing an additional 14,810 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Riley Exploration Permian during the 3rd quarter valued at about $223,000. Finally, Copeland Capital Management LLC bought a new position in shares of Riley Exploration Permian during the 3rd quarter valued at about $48,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.