Roth Capital Reaffirms “Buy” Rating for Riley Exploration Permian (NYSE:REPX)

Riley Exploration Permian (NYSE:REPX)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Capital in a note issued to investors on Thursday,Benzinga reports. They currently have a $45.00 target price on the stock. Roth Capital’s price objective would indicate a potential upside of 26.83% from the stock’s previous close.

Separately, Zacks Research cut Riley Exploration Permian from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $46.00.

Riley Exploration Permian Stock Down 1.5%

REPX stock opened at $35.48 on Thursday. Riley Exploration Permian has a fifty-two week low of $24.08 and a fifty-two week high of $41.53. The company has a market capitalization of $769.77 million, a price-to-earnings ratio of 6.29 and a beta of 0.91. The business’s 50 day moving average price is $34.75 and its two-hundred day moving average price is $32.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.70.

Insider Buying and Selling at Riley Exploration Permian

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in REPX. Aster Capital Management DIFC Ltd purchased a new stake in Riley Exploration Permian in the fourth quarter worth approximately $27,000. Royal Bank of Canada raised its stake in Riley Exploration Permian by 210.9% during the 4th quarter. Royal Bank of Canada now owns 1,138 shares of the company’s stock valued at $31,000 after buying an additional 772 shares during the last quarter. Quarry LP purchased a new stake in Riley Exploration Permian during the 3rd quarter valued at $46,000. Advisory Services Network LLC bought a new position in shares of Riley Exploration Permian during the 3rd quarter valued at $65,000. Finally, Parkwood LLC bought a new position in shares of Riley Exploration Permian during the 3rd quarter valued at $68,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

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.