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

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

Analyst Ratings Changes

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

Riley Exploration Permian Stock Performance

The company has a market cap of $609.69 million, a price-to-earnings ratio of 5.03 and a beta of 1.58. The firm’s 50 day simple moving average is $33.38 and its 200-day simple moving average is $30.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Riley Exploration Permian Announces Dividend

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

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 15,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.37, for a total transaction of $500,550.00. Following the transaction, the chief executive officer now owns 296,375 shares of the company’s stock, valued at approximately $9,890,033.75. The trade was a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Riley Exploration Permian

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new position in shares of Riley Exploration Permian during the 4th quarter valued at about $33,000. Summit Investment Advisors Inc. boosted 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 valued at $38,000 after purchasing an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Riley Exploration Permian in the 4th quarter valued at approximately $77,000. Travelers Companies Inc. purchased a new stake in shares of Riley Exploration Permian in the 4th quarter valued at approximately $80,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Riley Exploration Permian during the 4th quarter worth approximately $110,000. 58.91% of the stock is owned by institutional investors and hedge funds.

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.