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

Riley Exploration Permian (NYSE:REPX) had its price target raised by investment analysts at Truist Financial from $38.00 to $40.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 22.93% from the stock’s current price.

Riley Exploration Permian Stock Up 1.7 %

Shares of NYSE:REPX traded up $0.54 during trading on Friday, hitting $32.54. 34,229 shares of the company’s stock traded hands, compared to its average volume of 125,084. The company has a market cap of $702.21 million, a price-to-earnings ratio of 5.74 and a beta of 1.34. The company has a 50-day moving average price of $27.35 and a 200-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 52 week low of $21.27 and a 52 week high of $34.90.

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

Insider Transactions at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 335,356 shares in the company, valued at $8,893,641.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC raised its stake 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 purchasing an additional 5,152 shares in the last quarter. Empowered Funds LLC increased 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 worth $783,000 after acquiring an additional 1,474 shares during the last quarter. Victory Capital Management Inc. increased 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 worth $1,036,000 after acquiring an additional 14,810 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Riley Exploration Permian during the 3rd quarter worth approximately $223,000. Finally, Copeland Capital Management LLC acquired a new position in shares of Riley Exploration Permian during the 3rd quarter worth approximately $48,000. 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.