Riley Exploration Permian, Inc. (NYSE:REPX) Forecasted to Earn Q2 2024 Earnings of $1.82 Per Share

Riley Exploration Permian, Inc. (NYSE:REPX) – Investment analysts at Roth Capital decreased their Q2 2024 earnings per share estimates for shares of Riley Exploration Permian in a research note issued to investors on Sunday, August 4th. Roth Capital analyst J. White now anticipates that the company will earn $1.82 per share for the quarter, down from their previous estimate of $1.84. The consensus estimate for Riley Exploration Permian’s current full-year earnings is $6.47 per share. Roth Capital also issued estimates for Riley Exploration Permian’s Q3 2024 earnings at $1.84 EPS, Q1 2025 earnings at $2.00 EPS, Q2 2025 earnings at $2.02 EPS and FY2025 earnings at $8.82 EPS.

Separately, Truist Financial reduced their price target on shares of Riley Exploration Permian from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd.

Riley Exploration Permian Stock Up 4.0 %

Shares of Riley Exploration Permian stock opened at $25.42 on Wednesday. The business has a 50-day moving average of $27.91 and a 200-day moving average of $26.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.59 and a quick ratio of 0.53. The company has a market capitalization of $547.55 million, a PE ratio of 5.13 and a beta of 1.36. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $35.51.

Riley Exploration Permian (NYSE:REPX) last announced its earnings results on Wednesday, May 8th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.11. The company had revenue of $99.74 million during the quarter, compared to the consensus estimate of $96.65 million. Riley Exploration Permian had a return on equity of 25.64% and a net margin of 24.16%.

Riley Exploration Permian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, July 25th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.66%. Riley Exploration Permian’s dividend payout ratio (DPR) is presently 29.27%.

Insider Activity at Riley Exploration Permian

In related news, insider Corey Neil Riley sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $26.61, for a total transaction of $66,525.00. Following the transaction, the insider now owns 146,837 shares in the company, valued at $3,907,332.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Corey Neil Riley sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $26.61, for a total transaction of $66,525.00. Following the transaction, the insider now owns 146,837 shares in the company, valued at $3,907,332.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 366,658 shares in the company, valued at approximately $10,266,424. The disclosure for this sale can be found here. Insiders have sold 27,520 shares of company stock worth $752,756 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Riley Exploration Permian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio grew its position in Riley Exploration Permian by 300.0% during the 4th quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 900 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Riley Exploration Permian by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock valued at $55,000 after acquiring an additional 962 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after acquiring an additional 1,062 shares in the last quarter. CWM LLC grew its holdings 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 acquiring an additional 1,144 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Riley Exploration Permian in the second quarter worth $39,000. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

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.