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

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

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

Riley Exploration Permian Stock Performance

NYSE REPX opened at $29.70 on Friday. The company’s 50-day simple moving average is $27.05 and its 200 day simple moving average is $27.72. Riley Exploration Permian has a twelve month low of $21.27 and a twelve month high of $34.90. The stock has a market cap of $640.93 million, a P/E ratio of 5.19 and a beta of 1.33. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.62.

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

Riley Exploration Permian Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This is a boost from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 5.12%. Riley Exploration Permian’s payout ratio is currently 29.63%.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 8,981 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $26.49, for a total value of $237,906.69. Following the sale, the chief executive officer now directly owns 326,375 shares of the company’s stock, valued at $8,645,673.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Riley Exploration Permian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new position in Riley Exploration Permian in the second quarter worth approximately $4,392,000. AQR Capital Management LLC purchased a new stake in Riley Exploration Permian in the second quarter worth $3,723,000. Marshall Wace LLP purchased a new stake in Riley Exploration Permian during the second quarter valued at about $2,396,000. First Eagle Investment Management LLC boosted its holdings in Riley Exploration Permian by 77.2% in the 1st quarter. First Eagle Investment Management LLC now owns 176,564 shares of the company’s stock worth $5,827,000 after buying an additional 76,932 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Riley Exploration Permian by 95.5% in the second quarter. Renaissance Technologies LLC now owns 139,000 shares of the company’s stock valued at $3,935,000 after purchasing an additional 67,900 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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.