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

Riley Exploration Permian (NYSE:REPX) had its price objective upped by research analysts at Truist Financial from $38.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 19.80% from the company’s previous close.

Riley Exploration Permian Price Performance

Shares of REPX stock opened at $33.39 on Friday. The firm has a fifty day moving average of $27.45 and a two-hundred day moving average of $27.41. The firm has a market cap of $717.22 million, a P/E ratio of 6.24 and a beta of 1.34. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $34.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.58.

Riley Exploration Permian (NYSE:REPX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.13). Riley Exploration Permian had a net margin of 28.48% and a return on equity of 23.82%. The firm had revenue of $105.40 million during the quarter, compared to the consensus estimate of $106.62 million. As a group, research analysts anticipate that Riley Exploration Permian will post 6.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bobby Riley sold 8,981 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total value of $237,906.69. Following the transaction, the chief executive officer now directly owns 326,375 shares in the company, valued at approximately $8,645,673.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Riley Exploration Permian

Several hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC acquired a new position in Riley Exploration Permian during the 3rd quarter valued at about $1,592,000. Quest Partners LLC boosted its position in shares of Riley Exploration Permian by 135.0% during the third quarter. Quest Partners LLC now owns 8,967 shares of the company’s stock worth $238,000 after buying an additional 5,152 shares during the period. Empowered Funds LLC boosted its position in shares of Riley Exploration Permian by 5.2% during the third quarter. Empowered Funds LLC now owns 29,566 shares of the company’s stock worth $783,000 after buying an additional 1,474 shares during the period. Victory Capital Management Inc. grew its holdings in Riley Exploration Permian by 61.0% in the 3rd quarter. Victory Capital Management Inc. now owns 39,091 shares of the company’s stock worth $1,036,000 after buying an additional 14,810 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Riley Exploration Permian in the 3rd quarter valued at approximately $223,000. Institutional investors 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.