Truist Financial Increases Riley Exploration Permian (NYSE:REPX) Price Target to $45.00

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

Riley Exploration Permian Trading Down 1.0 %

Shares of Riley Exploration Permian stock opened at $34.29 on Thursday. Riley Exploration Permian has a 1 year low of $21.27 and a 1 year high of $35.40. The firm has a market cap of $736.55 million, a PE ratio of 6.08 and a beta of 1.34. The stock has a fifty day moving average price of $28.17 and a 200-day moving average price of $27.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64.

Riley Exploration Permian Increases Dividend

The firm also recently announced 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 of this dividend was Thursday, October 24th. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 4.43%. Riley Exploration Permian’s dividend payout ratio (DPR) is currently 26.95%.

Insider Activity

In other news, CEO Bobby Riley sold 6,302 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 335,356 shares of the company’s stock, valued at $8,893,641.12. This trade represents a 1.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in REPX. Empowered Funds LLC grew its stake in shares of Riley Exploration Permian by 8.0% during the 1st quarter. Empowered Funds LLC now owns 26,112 shares of the company’s stock worth $862,000 after acquiring an additional 1,925 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Riley Exploration Permian by 785.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,571 shares of the company’s stock worth $151,000 after acquiring an additional 4,055 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of Riley Exploration Permian during the 1st quarter worth $290,000. First Eagle Investment Management LLC grew its stake in shares of Riley Exploration Permian by 77.2% during the 1st quarter. First Eagle Investment Management LLC now owns 176,564 shares of the company’s stock worth $5,827,000 after acquiring an additional 76,932 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Riley Exploration Permian during the 1st quarter worth $640,000. Institutional investors own 58.91% of the company’s stock.

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.