Truist Financial Trims Riley Exploration Permian (NYSE:REPX) Target Price to $48.00

Riley Exploration Permian (NYSE:REPX) had its price target dropped by investment analysts at Truist Financial from $51.00 to $48.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 82.44% from the stock’s previous close.

Riley Exploration Permian Price Performance

Shares of REPX opened at $26.31 on Monday. Riley Exploration Permian has a twelve month low of $21.27 and a twelve month high of $42.96. The company has a market capitalization of $642.23 million, a P/E ratio of 4.72 and a beta of 1.32. The firm has a 50 day moving average of $28.34 and a 200 day moving average of $26.59. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.80.

Riley Exploration Permian (NYSE:REPX) last issued its earnings results on Wednesday, March 6th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.91). Riley Exploration Permian had a net margin of 29.75% and a return on equity of 25.08%. The business had revenue of $99.83 million for the quarter, compared to analysts’ expectations of $94.77 million. As a group, equities research analysts anticipate that Riley Exploration Permian will post 7.14 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Alvin Gerald Libin acquired 75,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was purchased at an average cost of $27.00 per share, with a total value of $2,025,000.00. Following the completion of the acquisition, the insider now directly owns 2,194,921 shares of the company’s stock, valued at $59,262,867. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Alvin Gerald Libin purchased 75,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were purchased at an average cost of $27.00 per share, for a total transaction of $2,025,000.00. Following the purchase, the insider now directly owns 2,194,921 shares in the company, valued at approximately $59,262,867. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $25.52, for a total value of $17,864,000.00. Following the sale, the insider now owns 4,521,767 shares of the company’s stock, valued at approximately $115,395,493.84. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Riley Exploration Permian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System purchased a new position in shares of Riley Exploration Permian during the 3rd quarter valued at about $25,000. Strs Ohio raised its stake in Riley Exploration Permian by 300.0% during the 4th quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $32,000 after acquiring an additional 900 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Riley Exploration Permian by 92.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock valued at $55,000 after purchasing an additional 962 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Riley Exploration Permian in the third quarter worth approximately $78,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Riley Exploration Permian by 494.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,142 shares of the company’s stock worth $100,000 after purchasing an additional 2,613 shares in the last quarter. Hedge funds and other 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.