Truist Financial Has Lowered Expectations for Riley Exploration Permian (NYSE:REPX) Stock Price

Key Points

• Truist Financial lowered its price target for Riley Exploration Permian from $47 to $41 while maintaining a “Buy” rating, implying roughly 13.9% upside from the $35.99 share price.
• Analyst sentiment remains broadly positive, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $43.
• REPX shares fell 1.5% to $35.99; CEO Bobby Riley sold 12,500 shares under a pre-arranged trading plan, while institutional investors own 58.91% of the company.

Riley Exploration Permian (NYSE:REPX - Get Free Report) had its target price lowered by Truist Financial from $47.00 to $41.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target would suggest a potential upside of 13.92% from the stock's current price.

Several other equities analysts also recently commented on REPX. Zacks Research downgraded shares of Riley Exploration Permian from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Roth Capital reaffirmed a "buy" rating and set a $45.00 target price on shares of Riley Exploration Permian in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Riley Exploration Permian Trading Down 1.5%

REPX traded down $0.53 on Wednesday, hitting $35.99. The company had a trading volume of 65,092 shares, compared to its average volume of 328,089. The company has a market cap of $797.32 million, a PE ratio of 6.38 and a beta of 0.93. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The business's fifty day simple moving average is $34.08 and its 200 day simple moving average is $33.56. Riley Exploration Permian has a 12-month low of $24.08 and a 12-month high of $41.53.

Insider Buying and Selling

In other news, CEO Bobby Riley sold 12,500 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.85, for a total value of $448,125.00. Following the sale, the chief executive officer owned 482,983 shares in the company, valued at $17,314,940.55. This represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of REPX. Aster Capital Management DIFC Ltd purchased a new stake in Riley Exploration Permian in the 4th quarter valued at $27,000. Royal Bank of Canada boosted its stake in Riley Exploration Permian by 210.9% during the fourth quarter. Royal Bank of Canada now owns 1,138 shares of the company's stock worth $31,000 after buying an additional 772 shares during the period. Allworth Financial LP purchased a new position in Riley Exploration Permian during the second quarter worth about $42,000. Quarry LP acquired a new stake in shares of Riley Exploration Permian during the third quarter valued at about $46,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at approximately $65,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

Riley Exploration Permian Company Profile

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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