Riley Exploration Permian (NYSE:REPX) Sets New 1-Year High - Still a Buy?

Key Points

• 52-week high: Riley Exploration Permian hit a new 52-week high of $37.74 (last traded ~ $37.11) and has a market cap of about $802 million with a P/E of 6.6.
• Analyst consensus — Buy ($41.50): MarketBeat shows a consensus "Buy" with a $41.50 target after mixed analyst action (Truist initiated at $47; Zacks cut to Hold; William Blair reaffirmed Outperform).
• Shareholder returns and insider activity: The company pays a $0.40 quarterly dividend (≈4.3% yield) and authorized a $100M buyback (~18% of shares), while insiders recently sold shares and institutions own about 58.9%.

Riley Exploration Permian, Inc. (NYSE:REPX - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $37.74 and last traded at $37.1050, with a volume of 961 shares changing hands. The stock had previously closed at $37.17.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. William Blair reaffirmed an "outperform" rating on shares of Riley Exploration Permian in a research note on Thursday, March 5th. Finally, Truist Financial began coverage on Riley Exploration Permian in a research note on Tuesday, March 24th. They issued a "buy" rating and a $47.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Riley Exploration Permian currently has a consensus rating of "Buy" and a consensus target price of $41.50.

Riley Exploration Permian Trading Up 0.1%

The firm has a market capitalization of $802.08 million, a price-to-earnings ratio of 6.60 and a beta of 1.22. The business's fifty day moving average is $30.13 and its 200 day moving average is $27.93. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Thursday, January 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, January 22nd. Riley Exploration Permian's dividend payout ratio is currently 21.08%.

Riley Exploration Permian declared that its board has authorized a stock repurchase program on Tuesday, December 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 18% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Bobby Riley sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $27.79, for a total transaction of $347,375.00. Following the completion of the transaction, the chief executive officer directly owned 336,931 shares of the company's stock, valued at $9,363,312.49. This trade represents a 3.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $27.41, for a total transaction of $95,935.00. Following the completion of the sale, the insider owned 158,565 shares in the company, valued at $4,346,266.65. This trade represents a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REPX. McAlvany Wealth Management LLC bought a new stake in Riley Exploration Permian during the 4th quarter worth about $943,000. Invesco Ltd. increased its position in shares of Riley Exploration Permian by 38.8% in the fourth quarter. Invesco Ltd. now owns 29,903 shares of the company's stock valued at $789,000 after acquiring an additional 8,363 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Riley Exploration Permian by 12.3% during the fourth quarter. Mackenzie Financial Corp now owns 163,215 shares of the company's stock worth $4,364,000 after acquiring an additional 17,941 shares in the last quarter. VARCOV Co. acquired a new position in Riley Exploration Permian during the fourth quarter valued at approximately $304,000. Finally, Susquehanna Portfolio Strategies LLC boosted its position in Riley Exploration Permian by 19.8% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 18,178 shares of the company's stock valued at $480,000 after purchasing an additional 3,001 shares during the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

About Riley Exploration Permian

Riley Exploration Permian, Inc NYSE: REPX is a special purpose acquisition company formed to identify, acquire and operate assets in the oil and natural gas sector, with a dedicated focus on the Permian Basin. Incorporated in Delaware, the company completed its initial public offering on the New York Stock Exchange and is positioned to pursue a business combination with one or more upstream or midstream energy businesses. Riley Exploration Permian’s strategy centers on leveraging the region’s prolific reservoirs and existing infrastructure to drive growth and value for its shareholders.

The company seeks to target exploration and production assets in both the Midland and Delaware sub-basins of West Texas and southeastern New Mexico, where extensive pipeline networks and favorable geologic characteristics support efficient development.

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