Riley Exploration Permian (NYSE:REPX) Shares Gap Up to $25.29

Riley Exploration Permian, Inc. (NYSE:REPX) shares gapped up prior to trading on Thursday . The stock had previously closed at $25.29, but opened at $25.99. Riley Exploration Permian shares last traded at $26.17, with a volume of 120 shares.

Separately, Zacks Investment Research raised Riley Exploration Permian from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Saturday, December 18th.

The firm has a 50 day simple moving average of $20.80. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.27.

Riley Exploration Permian (NYSE:REPX) last issued its earnings results on Monday, December 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.34. The company had revenue of $48.61 million during the quarter, compared to analyst estimates of $35.64 million. Research analysts predict that Riley Exploration Permian, Inc. will post 3.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 9th. Shareholders of record on Wednesday, January 26th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.44%. The ex-dividend date is Tuesday, January 25th.

In other news, Director Bryan H. Lawrence sold 100,482 shares of Riley Exploration Permian stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $26.00, for a total value of $2,612,532.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alvin Gerald Libin bought 16,562 shares of the firm’s stock in a transaction that occurred on Friday, October 22nd. The shares were acquired at an average price of $26.60 per share, with a total value of $440,549.20. The disclosure for this purchase can be found here. Insiders own 51.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of REPX. Renaissance Technologies LLC purchased a new stake in Riley Exploration Permian in the third quarter valued at approximately $239,000. UBS Group AG lifted its stake in Riley Exploration Permian by 2,555.4% in the third quarter. UBS Group AG now owns 14,525 shares of the company’s stock valued at $341,000 after buying an additional 13,978 shares during the last quarter. Geode Capital Management LLC lifted its stake in Riley Exploration Permian by 42.0% in the third quarter. Geode Capital Management LLC now owns 35,949 shares of the company’s stock valued at $844,000 after buying an additional 10,638 shares during the last quarter. Marshall Wace LLP purchased a new stake in Riley Exploration Permian in the third quarter valued at approximately $873,000. Finally, Saltoro Capital LP lifted its stake in Riley Exploration Permian by 44.1% in the third quarter. Saltoro Capital LP now owns 79,263 shares of the company’s stock valued at $1,861,000 after buying an additional 24,263 shares during the last quarter. Institutional investors own 75.00% of the company’s stock.

Riley Exploration Permian Company Profile (NYSE:REPX)

Riley Exploration Permian, Inc is an independent oil and natural gas company. It engages in the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids in the Permian Basin. The company was founded in 1916 and is headquartered in Oklahoma City, OK.

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