Riley Exploration Permian (NYSE:REPX) Sees Unusually-High Trading Volume

Shares of Riley Exploration Permian, Inc. (NYSE:REPX) saw strong trading volume on Tuesday . 137,971 shares changed hands during trading, an increase of 118% from the previous session’s volume of 63,364 shares.The stock last traded at $30.40 and had previously closed at $30.55.

Analyst Ratings Changes

Separately, Truist Financial cut their price objective on shares of Riley Exploration Permian from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, July 24th.

Riley Exploration Permian Stock Up 0.2 %

The business has a 50-day moving average price of $34.38 and a 200-day moving average price of $36.39. The company has a market capitalization of $617.51 million, a price-to-earnings ratio of 5.30 and a beta of 1.34. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.97.

Riley Exploration Permian (NYSE:REPX) last announced its earnings results on Monday, August 7th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.41). Riley Exploration Permian had a return on equity of 32.57% and a net margin of 45.50%. The firm had revenue of $99.91 million during the quarter, compared to analyst estimates of $90.81 million. As a group, equities analysts anticipate that Riley Exploration Permian, Inc. will post 6.69 earnings per share for the current fiscal year.

Riley Exploration Permian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Thursday, July 20th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $1.36 annualized dividend and a dividend yield of 4.44%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 17.78%.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, President Kevin Riley sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $35.11, for a total transaction of $105,330.00. Following the completion of the sale, the president now directly owns 190,899 shares in the company, valued at approximately $6,702,463.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC purchased a new stake in shares of Riley Exploration Permian during the second quarter worth $25,000. Advisor Group Holdings Inc. acquired a new stake in shares of Riley Exploration Permian during the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC grew its stake in shares of Riley Exploration Permian by 109.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock valued at $27,000 after buying an additional 371 shares in the last quarter. FMR LLC increased its holdings in Riley Exploration Permian by 68.7% in the second quarter. FMR LLC now owns 1,331 shares of the company’s stock worth $32,000 after buying an additional 542 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Riley Exploration Permian during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

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 San Andres Formation, a shelf margin deposit on the Central Basin Platform and Northwest Shelf.