Roth Capital Comments on Riley Exploration Permian, Inc.’s Q2 2024 Earnings (NYSE:REPX)

Riley Exploration Permian, Inc. (NYSE:REPX) – Equities research analysts at Roth Capital reduced their Q2 2024 earnings per share estimates for Riley Exploration Permian in a report issued on Sunday, August 4th. Roth Capital analyst J. White now expects that the company will post earnings per share of $1.82 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 cut their target price on Riley Exploration Permian from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd.

Riley Exploration Permian Stock Performance

REPX stock opened at $25.42 on Wednesday. The business has a 50-day moving average price of $27.91 and a 200 day moving average price of $26.91. Riley Exploration Permian has a 1-year low of $21.27 and a 1-year high of $35.51. 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 P/E ratio of 5.13 and a beta of 1.36.

Riley Exploration Permian (NYSE:REPX) last released its quarterly earnings data 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 firm 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%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Strs Ohio raised its stake in shares of 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 buying an additional 900 shares during the period. CWM LLC raised 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 worth $35,000 after buying an additional 1,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Riley Exploration Permian during the second quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its position in shares of Riley Exploration Permian by 92.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,004 shares of the company’s stock worth $55,000 after purchasing an additional 962 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Riley Exploration Permian by 38.6% during the second quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock worth $108,000 after purchasing an additional 1,062 shares in the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Riley Exploration Permian

In related news, CEO Bobby Riley sold 10,020 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $26.57, for a total value of $266,231.40. Following the sale, the chief executive officer now owns 381,658 shares in the company, valued at $10,140,653.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Riley Exploration Permian news, CEO Bobby Riley sold 10,020 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $26.57, for a total value of $266,231.40. Following the completion of the transaction, the chief executive officer now directly owns 381,658 shares of the company’s stock, valued at $10,140,653.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Corey Neil Riley sold 2,500 shares of the business’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 value of $66,525.00. Following the completion of the transaction, the insider now directly owns 146,837 shares of the company’s stock, valued at $3,907,332.57. The disclosure for this sale can be found here. Insiders have sold a total of 27,520 shares of company stock worth $752,756 over the last quarter. Insiders own 3.90% of the company’s stock.

Riley Exploration Permian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were paid 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 payout ratio is 29.27%.

Riley Exploration Permian Company Profile

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.