Riley Exploration Permian (NYSE:REPX) Given New $48.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price objective dropped by investment analysts at Truist Financial from $51.00 to $48.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 86.41% from the company’s previous close.

Riley Exploration Permian Price Performance

Shares of REPX stock opened at $25.75 on Monday. The firm has a market cap of $628.58 million, a P/E ratio of 4.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.67 and a quick ratio of 0.61. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $42.96. The firm has a fifty day moving average of $28.23 and a two-hundred day moving average of $26.67.

Riley Exploration Permian (NYSE:REPX) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.91). Riley Exploration Permian had a return on equity of 25.08% and a net margin of 29.75%. The business had revenue of $99.83 million during the quarter, compared to the consensus estimate of $94.77 million. As a group, research analysts anticipate that Riley Exploration Permian will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Riley Exploration Permian

In related news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.21, for a total value of $423,150.00. Following the sale, the chief executive officer now directly owns 364,198 shares in the company, valued at approximately $10,274,025.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Riley Exploration Permian news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the transaction, the insider now owns 4,521,767 shares of the company’s stock, valued at approximately $115,395,493.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bobby Riley sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.21, for a total transaction of $423,150.00. Following the transaction, the chief executive officer now directly owns 364,198 shares in the company, valued at approximately $10,274,025.58. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Riley Exploration Permian

Several hedge funds have recently made changes to their positions in REPX. New York State Teachers Retirement System acquired a new stake in shares of Riley Exploration Permian during the third quarter worth approximately $25,000. Strs Ohio lifted its stake in shares of Riley Exploration Permian by 300.0% in the fourth quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 900 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Riley Exploration Permian by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock worth $55,000 after buying an additional 962 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Riley Exploration Permian during the third quarter worth $78,000. Finally, Allspring Global Investments Holdings LLC increased its position in Riley Exploration Permian by 494.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,142 shares of the company’s stock worth $100,000 after acquiring an additional 2,613 shares during the period. 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.