Roth Capital Has Bullish Forecast for REPX FY2024 Earnings

Riley Exploration Permian, Inc. (NYSE:REPX) – Roth Capital lifted their FY2024 earnings per share estimates for shares of Riley Exploration Permian in a research report issued to clients and investors on Monday, November 18th. Roth Capital analyst J. White now forecasts that the company will post earnings of $6.39 per share for the year, up from their prior estimate of $6.37. The consensus estimate for Riley Exploration Permian’s current full-year earnings is $6.37 per share. Roth Capital also issued estimates for Riley Exploration Permian’s Q4 2024 earnings at $1.74 EPS.

Separately, Truist Financial boosted their target price on shares of Riley Exploration Permian from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Riley Exploration Permian Trading Up 1.2 %

Shares of REPX stock opened at $35.12 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $28.56 and a 200 day simple moving average of $27.83. Riley Exploration Permian has a fifty-two week low of $21.27 and a fifty-two week high of $35.40. The stock has a market capitalization of $754.38 million, a P/E ratio of 6.48 and a beta of 1.34.

Riley Exploration Permian Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 24th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.33%. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, October 24th. Riley Exploration Permian’s dividend payout ratio is currently 26.95%.

Insider Activity at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 326,375 shares of the company’s stock, valued at approximately $8,645,673.75. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Riley Exploration Permian

A number of large investors have recently made changes to their positions in REPX. CWM LLC grew its position in Riley Exploration Permian by 1,191.7% during the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock worth $35,000 after purchasing an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of Riley Exploration Permian in the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Riley Exploration Permian in the second quarter worth $39,000. Copeland Capital Management LLC purchased a new position in shares of Riley Exploration Permian during the third quarter valued at $48,000. Finally, Point72 DIFC Ltd acquired a new position in Riley Exploration Permian during the second quarter valued at $51,000. 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.