Riley Exploration Permian (NYSE:REPX) Given New $52.00 Price Target at Truist Financial

Riley Exploration Permian (NYSE:REPXGet Rating) had its price target reduced by equities researchers at Truist Financial from $56.00 to $52.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 114.79% from the company’s previous close.

Separately, Zacks Investment Research raised shares of Riley Exploration Permian from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a report on Wednesday, April 20th.

REPX traded up $0.90 during trading on Monday, hitting $24.21. 860 shares of the stock traded hands, compared to its average volume of 85,441. The firm has a market capitalization of $472.46 million, a P/E ratio of 75.66 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50-day moving average of $25.54 and a 200 day moving average of $24.32. Riley Exploration Permian has a 12-month low of $15.53 and a 12-month high of $53.92.

Riley Exploration Permian (NYSE:REPXGet Rating) last released its quarterly earnings data on Monday, February 14th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08). The firm had revenue of $57.25 million for the quarter, compared to the consensus estimate of $42.38 million. Riley Exploration Permian had a net margin of 3.89% and a return on equity of 28.54%. As a group, equities analysts predict that Riley Exploration Permian will post 4.51 EPS for the current fiscal year.

In other Riley Exploration Permian news, Director Bryan H. Lawrence sold 35,150 shares of the business’s stock in a transaction on Tuesday, April 12th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bryan H. Lawrence sold 109,758 shares of the business’s stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $23.75, for a total transaction 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.

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP boosted its stake in shares of Riley Exploration Permian by 2.1% during the fourth quarter. Marshall Wace LLP now owns 37,988 shares of the company’s stock valued at $734,000 after purchasing an additional 796 shares during the period. BlackRock Inc. boosted its stake in shares of Riley Exploration Permian by 0.7% during the fourth quarter. BlackRock Inc. now owns 152,538 shares of the company’s stock valued at $2,947,000 after purchasing an additional 1,036 shares during the period. Bank of America Corp DE lifted its stake in Riley Exploration Permian by 40.1% in the fourth quarter. Bank of America Corp DE now owns 4,252 shares of the company’s stock worth $82,000 after acquiring an additional 1,218 shares during the period. Northern Trust Corp lifted its stake in Riley Exploration Permian by 6.8% in the fourth quarter. Northern Trust Corp now owns 23,135 shares of the company’s stock worth $447,000 after acquiring an additional 1,473 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Riley Exploration Permian by 83.1% in the fourth quarter. JPMorgan Chase & Co. now owns 3,471 shares of the company’s stock worth $67,000 after acquiring an additional 1,575 shares during the period. 58.08% of the stock is owned by hedge funds and other institutional investors.

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.

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