Riley Exploration Permian (NYSE:REPX) Shares Down 3.4% – Here’s What Happened

Riley Exploration Permian, Inc. (NYSE:REPX)’s share price dropped 3.4% on Friday . The stock traded as low as $27.71 and last traded at $27.77. Approximately 20,754 shares were traded during trading, a decline of 84% from the average daily volume of 126,831 shares. The stock had previously closed at $28.74.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on shares of Riley Exploration Permian from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

Riley Exploration Permian Trading Down 3.1 %

The business has a 50 day simple moving average of $27.38 and a 200-day simple moving average of $27.61. The stock has a market capitalization of $600.00 million, a price-to-earnings ratio of 5.62 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings data 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). Riley Exploration Permian had a net margin of 23.95% and a return on equity of 25.74%. The business had revenue of $105.40 million for the quarter, compared to the consensus estimate of $106.62 million. As a group, equities analysts expect that Riley Exploration Permian, Inc. will post 6.37 earnings per share for the current year.

Riley Exploration Permian Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th will be paid a $0.38 dividend. The ex-dividend date is Thursday, October 24th. This represents a $1.52 dividend on an annualized basis and a yield of 5.46%. This is a positive change from Riley Exploration Permian’s previous quarterly dividend of $0.36. Riley Exploration Permian’s payout ratio is presently 30.89%.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $26.52, for a total value of $167,129.04. Following the transaction, the chief executive officer now owns 335,356 shares of the company’s stock, valued at approximately $8,893,641.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of Riley Exploration Permian by 1,191.7% in the second quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after purchasing an additional 1,144 shares during the last quarter. Ariadne Wealth Management LP acquired a new position in Riley Exploration Permian during the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Riley Exploration Permian during the second quarter worth $39,000. Point72 DIFC Ltd acquired a new position in Riley Exploration Permian during the second quarter worth $51,000. Finally, Quest Partners LLC increased its holdings in shares of Riley Exploration Permian by 38.6% in the second quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after purchasing an additional 1,062 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, 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.