Riley Exploration Permian (NYSE:REPX) Upgraded to “Hold” by Zacks Investment Research

Riley Exploration Permian (NYSE:REPXGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Riley Exploration Permian Inc. is an independent oil and natural gas company. It involved in acquisition, exploration, development and production of oil, natural gas, and natural gas liquids, or NGLs principally in the Permian Basin. Riley Exploration Permian Inc., formerly known as Tengasco Inc., is based in GREENWOOD VILLAGE, Colo. “

Separately, Truist Financial lifted their target price on Riley Exploration Permian from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 22nd.

Shares of NYSE REPX opened at $25.65 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.27. The firm has a market cap of $500.56 million, a PE ratio of -5.03 and a beta of 0.89. The stock has a fifty day moving average of $27.54. Riley Exploration Permian has a 52-week low of $15.53 and a 52-week high of $53.92.

Riley Exploration Permian (NYSE:REPXGet Rating) last issued its earnings results on Monday, February 14th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). The company had revenue of $57.25 million during the quarter, compared to analyst estimates of $42.38 million. Riley Exploration Permian had a return on equity of 15.89% and a net margin of 4.45%. As a group, sell-side analysts expect that Riley Exploration Permian will post 3.32 EPS for the current year.

In other news, Director Bryan H. Lawrence sold 35,150 shares of Riley Exploration Permian stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $24.49, for a total transaction of $860,823.50. Following the transaction, the director now owns 180,634 shares in the company, valued at $4,423,726.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bryan H. Lawrence sold 109,758 shares of Riley Exploration Permian stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $23.75, for a total value of $2,606,752.50. Following the transaction, the director now owns 4,786 shares in the company, valued at approximately $113,667.50. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Yorktown Energy Partners V LP purchased a new position in Riley Exploration Permian in the fourth quarter valued at about $11,897,000. Jackson Hole Capital Partners LLC lifted its position in shares of Riley Exploration Permian by 11.7% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 345,339 shares of the company’s stock worth $6,672,000 after buying an additional 36,080 shares during the last quarter. BlackRock Inc. lifted its position in shares of Riley Exploration Permian by 0.7% in the fourth quarter. BlackRock Inc. now owns 152,538 shares of the company’s stock worth $2,947,000 after buying an additional 1,036 shares during the last quarter. Saltoro Capital LP lifted its position in shares of Riley Exploration Permian by 16.4% in the fourth quarter. Saltoro Capital LP now owns 92,254 shares of the company’s stock worth $178,000 after buying an additional 12,991 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Riley Exploration Permian by 18.5% in the fourth quarter. Geode Capital Management LLC now owns 42,607 shares of the company’s stock worth $823,000 after buying an additional 6,658 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Riley Exploration Permian Company Profile (Get Rating)

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 San Andres Formation, a shelf margin deposit on the Central Basin Platform and Northwest Shelf.

Further Reading

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