Riley Exploration Permian (NYSE:REPX) Hits New 52-Week High - Should You Buy?

Key Points

• Riley Exploration Permian reached a new 52-week high, trading as high as $44.44 and closing around $44.30. The stock is up 2.4%, with a market capitalization of approximately $987 million.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating. However, the average price target of $43.00 is below the recent trading price, while Truist recently lowered its target to $41.
• The company pays a quarterly dividend of $0.40, equivalent to $1.60 annually and a 3.6% yield. Insiders sold shares recently, though institutional investors own a majority stake of 58.91%.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $44.44 and last traded at $44.3010, with a volume of 49162 shares trading hands. The stock had previously closed at $43.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Truist Financial decreased their price target on shares of Riley Exploration Permian from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Roth Capital restated a "buy" rating and set a $45.00 price objective on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Finally, Zacks Research cut Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Riley Exploration Permian has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Riley Exploration Permian Stock Up 2.4%

The stock has a fifty day moving average price of $36.58 and a two-hundred day moving average price of $35.41. The company has a market cap of $986.96 million, a price-to-earnings ratio of 7.91 and a beta of 0.96. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53.

Riley Exploration Permian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a $0.40 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.6%. Riley Exploration Permian's payout ratio is 28.99%.

Insider Buying and Selling at Riley Exploration Permian

In other news, CFO Philip A. Riley sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $37.61, for a total transaction of $150,440.00. Following the transaction, the chief financial officer directly owned 235,503 shares of the company's stock, valued at approximately $8,857,267.83. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Corey Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.20, for a total transaction of $123,200.00. Following the completion of the sale, the insider owned 210,062 shares of the company's stock, valued at approximately $7,394,182.40. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,000 shares of company stock valued at $721,765 in the last quarter. Company insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Riley Exploration Permian

Hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in Riley Exploration Permian in the 4th quarter valued at $27,000. Royal Bank of Canada increased its position in shares of Riley Exploration Permian by 210.9% in the fourth quarter. Royal Bank of Canada now owns 1,138 shares of the company's stock worth $31,000 after purchasing an additional 772 shares during the period. Allworth Financial LP bought a new position in shares of Riley Exploration Permian in the second quarter worth $42,000. Quarry LP acquired a new position in Riley Exploration Permian in the third quarter valued at about $46,000. Finally, Nykredit A S acquired a new position in Riley Exploration Permian in the second quarter valued at about $63,000. Institutional investors own 58.91% of the company's stock.

Riley Exploration Permian Company Profile

Riley Exploration Permian, Inc is an independent oil and natural gas exploration and production company. The company focuses on acquiring, developing and operating oil and gas properties, with production consisting primarily of crude oil, natural gas and natural gas liquids.

Riley Exploration Permian's operations are concentrated in the Permian Basin, one of the largest hydrocarbon-producing regions in the United States. Its asset base is primarily located in southeastern New Mexico, where the company develops wells and related infrastructure across its leasehold interests.

The company was established in 2016 and became a publicly traded company in 2021.

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