Riley Exploration Permian (NYSE:REPX) Reaches New 12-Month High on Analyst Upgrade

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report) shares hit a new 52-week high on Friday after Truist Financial raised their price target on the stock from $40.00 to $45.00. Truist Financial currently has a buy rating on the stock. Riley Exploration Permian traded as high as $35.00 and last traded at $34.95, with a volume of 19909 shares. The stock had previously closed at $34.64.

Insider Buying and Selling at Riley Exploration Permian

In other news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $26.52, for a total transaction of $167,129.04. Following the completion of the sale, the chief executive officer now directly owns 335,356 shares in the company, valued at $8,893,641.12. The trade was a 1.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Riley Exploration Permian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in Riley Exploration Permian by 1,191.7% in the 2nd 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 acquired a new position in shares of Riley Exploration Permian during the second quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Riley Exploration Permian during the second quarter worth approximately $39,000. Point72 DIFC Ltd acquired a new position in shares of Riley Exploration Permian during the second quarter worth approximately $51,000. Finally, Copeland Capital Management LLC acquired a new position in shares of Riley Exploration Permian during the third quarter worth approximately $48,000. 58.91% of the stock is currently owned by institutional investors and hedge funds.

Riley Exploration Permian Trading Down 0.7 %

The company has a market capitalization of $739.02 million, a price-to-earnings ratio of 6.08 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The business has a fifty day moving average price of $27.99 and a 200 day moving average price of $27.60.

Riley Exploration Permian Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.42%. This is a boost from Riley Exploration Permian's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, October 24th. Riley Exploration Permian's dividend payout ratio is 26.95%.

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.