Equities Analysts Set Expectations for Riley Exploration Permian, Inc.’s Q3 2024 Earnings (NYSE:REPX)

Riley Exploration Permian, Inc. (NYSE:REPX) – Equities researchers at Roth Capital dropped their Q3 2024 EPS estimates for Riley Exploration Permian in a research note issued on Wednesday, October 9th. Roth Capital analyst J. White now forecasts that the company will earn $1.55 per share for the quarter, down from their previous estimate of $1.81. The consensus estimate for Riley Exploration Permian’s current full-year earnings is $6.64 per share. Roth Capital also issued estimates for Riley Exploration Permian’s Q4 2024 earnings at $1.60 EPS, Q1 2025 earnings at $1.76 EPS, Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $2.10 EPS, Q4 2025 earnings at $2.21 EPS and FY2025 earnings at $7.83 EPS.

Riley Exploration Permian (NYSE:REPX) last released its earnings results on Wednesday, August 7th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.13). Riley Exploration Permian had a return on equity of 25.74% and a net margin of 23.95%. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.62 million.

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

Riley Exploration Permian Trading Up 3.3 %

Riley Exploration Permian stock opened at $28.56 on Thursday. Riley Exploration Permian has a 1 year low of $21.27 and a 1 year high of $34.90. The firm’s 50 day moving average price is $26.96 and its 200-day moving average price is $27.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.58. The stock has a market cap of $616.32 million, a P/E ratio of 5.80 and a beta of 1.33.

Insiders Place Their Bets

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $26.49, for a total transaction of $237,906.69. Following the transaction, the chief executive officer now directly owns 326,375 shares in the company, valued at $8,645,673.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Trading of Riley Exploration Permian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in 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 buying an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP acquired a new position in Riley Exploration Permian in the 2nd quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Riley Exploration Permian during the second quarter worth approximately $39,000. Point72 DIFC Ltd acquired a new stake in Riley Exploration Permian in the second quarter valued at approximately $51,000. Finally, Quest Partners LLC increased its position 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 buying an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 58.91% 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 Northwest Shelf and Yeso trend of the Permian Basin.