Riley Exploration Permian (NYSE:REPX) Given New $38.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPX) had its price objective decreased by investment analysts at Truist Financial from $45.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 41.84% from the company’s previous close.

Riley Exploration Permian Trading Up 1.1 %

REPX stock opened at $26.79 on Monday. The company has a market capitalization of $578.13 million, a PE ratio of 5.45 and a beta of 1.34. Riley Exploration Permian has a 12 month low of $21.27 and a 12 month high of $34.90. The firm’s 50-day moving average is $27.10 and its 200 day moving average is $27.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58.

Riley Exploration Permian (NYSE:REPX) last issued its earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.13). Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. The business had revenue of $105.40 million for the quarter, compared to the consensus estimate of $106.62 million. On average, research analysts anticipate that Riley Exploration Permian will post 6.62 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Bobby Riley sold 8,981 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total transaction of $237,906.69. Following the completion of the transaction, the chief executive officer now owns 326,375 shares in the company, valued at approximately $8,645,673.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 30,283 shares of company stock worth $825,036 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Riley Exploration Permian by 1,191.7% during the second quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after buying an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP purchased a new position in Riley Exploration Permian during the 2nd quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Riley Exploration Permian during the 2nd quarter worth approximately $39,000. Point72 DIFC Ltd purchased a new position in Riley Exploration Permian during the 2nd quarter worth approximately $51,000. Finally, Quest Partners LLC raised its position in Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock worth $108,000 after buying an additional 1,062 shares during the last quarter. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

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.