Riley Exploration Permian (NYSE:REPX) Stock Price Expected to Rise, Truist Financial Analyst Says

Riley Exploration Permian (NYSE:REPX - Get Free Report) had its target price upped by Truist Financial from $38.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 19.92% from the company's current price.

Riley Exploration Permian Stock Performance

NYSE REPX traded up $1.35 on Friday, hitting $33.36. 177,746 shares of the company's stock traded hands, compared to its average volume of 125,745. The firm's 50-day moving average price is $27.35 and its two-hundred day moving average price is $27.38. The firm has a market capitalization of $719.80 million, a PE ratio of 5.77 and a beta of 1.34. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.62. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $34.90.

Riley Exploration Permian (NYSE:REPX - Get Free Report) last announced 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). The company had revenue of $105.40 million for the quarter, compared to analyst estimates of $106.62 million. Riley Exploration Permian had a return on equity of 24.60% and a net margin of 28.48%. As a group, analysts expect that Riley Exploration Permian will post 6.37 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Bobby Riley sold 8,981 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total value of $237,906.69. Following the completion of the transaction, the chief executive officer now directly owns 326,375 shares in the company, valued at $8,645,673.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.90% of the company's stock.

Institutional Trading of Riley Exploration Permian

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in shares of Riley Exploration Permian by 1,191.7% during 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 valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Riley Exploration Permian in the second quarter valued at approximately $39,000. Point72 DIFC Ltd acquired a new stake in shares of Riley Exploration Permian in the second quarter worth approximately $51,000. Finally, Copeland Capital Management LLC purchased a new stake in shares of Riley Exploration Permian during the third quarter worth approximately $48,000. 58.91% of the stock is owned by institutional investors and hedge funds.

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 Northwest Shelf and Yeso trend of the Permian Basin.