Riley Exploration Permian’s (REPX) “Buy” Rating Reiterated at Roth Capital

Roth Capital reiterated their buy rating on shares of Riley Exploration Permian (NYSE:REPX) in a research report sent to investors on Thursday morning,Benzinga reports. Roth Capital currently has a $45.00 target price on the stock.

Separately, Zacks Research lowered shares of Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Riley Exploration Permian currently has an average rating of “Buy” and an average price target of $46.00.

Riley Exploration Permian Trading Down 1.5%

NYSE REPX opened at $35.48 on Thursday. The business’s fifty day moving average is $34.75 and its 200-day moving average is $32.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market capitalization of $769.77 million, a price-to-earnings ratio of 6.29 and a beta of 0.91. Riley Exploration Permian has a one year low of $24.08 and a one year high of $41.53.

Riley Exploration Permian Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.5%. Riley Exploration Permian’s payout ratio is presently 56.14%.

Insiders Place Their Bets

In related news, insider Corey Neil Riley sold 3,500 shares of Riley Exploration Permian stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $34.37, for a total value of $120,295.00. Following the completion of the sale, the insider owned 148,472 shares of the company’s stock, valued at approximately $5,102,982.64. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobby Riley sold 12,500 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $34.45, for a total value of $430,625.00. Following the completion of the sale, the chief executive officer owned 313,020 shares in the company, valued at $10,783,539. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Riley Exploration Permian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REPX. Bank of America Corp DE boosted its position in shares of Riley Exploration Permian by 5.4% in the second quarter. Bank of America Corp DE now owns 7,806 shares of the company’s stock valued at $205,000 after acquiring an additional 402 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Riley Exploration Permian by 6.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company’s stock worth $189,000 after acquiring an additional 411 shares during the period. MetLife Investment Management LLC increased its holdings in Riley Exploration Permian by 6.5% during the 4th quarter. MetLife Investment Management LLC now owns 8,410 shares of the company’s stock worth $222,000 after acquiring an additional 516 shares during the period. Empowered Funds LLC increased its holdings in Riley Exploration Permian by 1.8% during the 1st quarter. Empowered Funds LLC now owns 31,549 shares of the company’s stock worth $920,000 after acquiring an additional 562 shares during the period. Finally, State of Wyoming lifted its stake in Riley Exploration Permian by 12.8% in the 4th quarter. State of Wyoming now owns 5,011 shares of the company’s stock worth $132,000 after purchasing an additional 567 shares in the last quarter. Institutional investors own 58.91% of the company’s stock.

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.