Riley Exploration Permian (NYSE:REPX) Shares Gap Up to $25.58

Riley Exploration Permian, Inc. (NYSE:REPXGet Rating)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $25.58, but opened at $27.10. Riley Exploration Permian shares last traded at $27.10, with a volume of 13 shares changing hands.

Separately, Truist Financial lowered their price target on shares of Riley Exploration Permian from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, May 16th.

The company’s fifty day moving average price is $25.36 and its 200 day moving average price is $25.10. The company has a market capitalization of $535.79 million, a P/E ratio of 8.31 and a beta of 0.90. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.28.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Thursday, April 21st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, April 20th. This represents a $1.24 annualized dividend and a dividend yield of 4.52%. Riley Exploration Permian’s dividend payout ratio is 387.51%.

In other Riley Exploration Permian news, Director Bryan H. Lawrence sold 109,758 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 4,786 shares in the company, valued at $113,667.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bryan H. Lawrence sold 35,150 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 180,634 shares in the company, valued at approximately $4,423,726.66. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Riley Exploration Permian by 293.4% in the first quarter. Bank of America Corp DE now owns 16,729 shares of the company’s stock valued at $420,000 after purchasing an additional 12,477 shares in the last quarter. California State Teachers Retirement System increased its stake in Riley Exploration Permian by 233.4% in the first quarter. California State Teachers Retirement System now owns 4,521 shares of the company’s stock valued at $113,000 after purchasing an additional 3,165 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Riley Exploration Permian in the first quarter valued at $1,269,000. Liberty Mutual Group Asset Management Inc. bought a new stake in Riley Exploration Permian in the first quarter valued at $341,000. Finally, RBF Capital LLC grew its holdings in shares of Riley Exploration Permian by 255.9% during the first quarter. RBF Capital LLC now owns 45,201 shares of the company’s stock valued at $1,168,000 after buying an additional 32,501 shares during the last quarter. 58.08% of the stock is owned by institutional investors and hedge funds.

Riley Exploration Permian Company Profile (NYSE:REPX)

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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