Riley Exploration Permian (NYSE:REPX) Trading Down 3.4% - Here's Why

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) shares were down 3.4% during trading on Friday . The stock traded as low as $27.71 and last traded at $27.77. Approximately 20,754 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 126,831 shares. The stock had previously closed at $28.74.

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Wall Street Analyst Weigh In

Separately, Truist Financial dropped their target price on Riley Exploration Permian from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, September 30th.

View Our Latest Research Report on REPX

Riley Exploration Permian Stock Performance

The company has a 50-day moving average price of $27.38 and a two-hundred day moving average price of $27.61. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $596.34 million, a P/E ratio of 5.66 and a beta of 1.33.

Riley Exploration Permian (NYSE:REPX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.13). Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. The business had revenue of $105.40 million during the quarter, compared to analysts' expectations of $106.62 million. Equities analysts expect that Riley Exploration Permian, Inc. will post 6.37 earnings per share for the current year.

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Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th will be issued a dividend of $0.38 per share. This is an increase from Riley Exploration Permian's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Thursday, October 24th. Riley Exploration Permian's payout ratio is currently 30.89%.

Insider Buying and Selling

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of Riley Exploration Permian stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total transaction of $237,906.69. Following the completion of the sale, the chief executive officer now owns 326,375 shares of the company's stock, valued at $8,645,673.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Institutional investors have recently made changes to their positions in the business. CWM LLC lifted its stake in Riley Exploration Permian by 1,191.7% in the second quarter. CWM LLC now owns 1,240 shares of the company's stock worth $35,000 after purchasing an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP purchased a new stake in Riley Exploration Permian during the 2nd quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Riley Exploration Permian during the 2nd quarter worth approximately $39,000. Point72 DIFC Ltd purchased a new position in Riley Exploration Permian in the 2nd quarter worth approximately $51,000. Finally, Quest Partners LLC increased its stake in Riley Exploration Permian by 38.6% in the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company's stock worth $108,000 after purchasing an additional 1,062 shares during the period. Hedge funds and other institutional investors own 58.91% of the company's stock.

About Riley Exploration Permian

(Get Free Report)

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.

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