Research Analysts Offer Predictions for Riley Exploration Permian, Inc.’s FY2024 Earnings (NYSE:REPX)

Riley Exploration Permian, Inc. (NYSE:REPX) – Stock analysts at Roth Capital lowered their FY2024 earnings per share (EPS) estimates for Riley Exploration Permian in a research note issued to investors on Wednesday, October 9th. Roth Capital analyst J. White now anticipates that the company will post earnings per share of $6.37 for the year, down from their previous estimate of $6.64. The consensus estimate for Riley Exploration Permian’s current full-year earnings is $6.64 per share.

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

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

Riley Exploration Permian Stock Up 4.0 %

Riley Exploration Permian stock opened at $29.70 on Friday. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $34.90. 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 $640.93 million, a PE ratio of 6.11 and a beta of 1.33. The stock’s fifty day moving average is $26.96 and its two-hundred day moving average is $27.73.

Institutional Trading of Riley Exploration Permian

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Riley Exploration Permian by 1,191.7% during the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after buying an additional 1,144 shares during the period. Ariadne Wealth Management LP purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at $39,000. Point72 DIFC Ltd purchased a new stake in shares of Riley Exploration Permian during the 2nd quarter valued at $51,000. Finally, Quest Partners LLC boosted its position in Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock worth $108,000 after purchasing an additional 1,062 shares during the period. 58.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Bobby Riley sold 8,981 shares of Riley Exploration Permian stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total transaction of $237,906.69. Following the completion of the transaction, the chief executive officer now directly owns 326,375 shares in the company, valued at $8,645,673.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Riley Exploration Permian Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.12%. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, October 24th. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 29.63%.

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.