Truist Financial Lowers Riley Exploration Permian (NYSE:REPX) Price Target to $50.00

Riley Exploration Permian (NYSE:REPX) had its price target dropped by equities research analysts at Truist Financial from $52.00 to $50.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 90.62% from the stock’s current price.

Riley Exploration Permian Stock Performance

NYSE REPX opened at $26.23 on Thursday. The company’s 50 day moving average is $30.79 and its 200-day moving average is $34.29. Riley Exploration Permian has a 12-month low of $24.31 and a 12-month high of $47.79. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 0.94. The firm has a market cap of $535.88 million, a P/E ratio of 5.21 and a beta of 1.34.

Insider Activity at Riley Exploration Permian

In other news, major shareholder Alvin Gerald Libin acquired 100,000 shares of Riley Exploration Permian stock in a transaction that occurred on Tuesday, September 19th. The stock was bought at an average price of $30.25 per share, with a total value of $3,025,000.00. Following the completion of the purchase, the insider now owns 1,874,779 shares in the company, valued at $56,712,064.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Riley Exploration Permian

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Yorktown Energy Partners VIII L.P. bought a new position in shares of Riley Exploration Permian during the 2nd quarter valued at $38,408,000. BlackRock Inc. lifted its position in shares of Riley Exploration Permian by 248.5% in the 1st quarter. BlackRock Inc. now owns 531,585 shares of the company’s stock worth $13,332,000 after purchasing an additional 379,047 shares during the period. Vanguard Group Inc. lifted its position in shares of Riley Exploration Permian by 106.0% in the 3rd quarter. Vanguard Group Inc. now owns 243,229 shares of the company’s stock worth $4,617,000 after purchasing an additional 125,164 shares during the period. PCG Wealth Advisors LLC lifted its position in shares of Riley Exploration Permian by 1,398.2% in the 2nd quarter. PCG Wealth Advisors LLC now owns 113,382 shares of the company’s stock worth $4,050,000 after purchasing an additional 105,814 shares during the period. Finally, State Street Corp lifted its position in Riley Exploration Permian by 137.3% during the 1st quarter. State Street Corp now owns 105,398 shares of the company’s stock valued at $2,643,000 after acquiring an additional 60,981 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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