What is Roth Capital’s Forecast for REPX FY2024 Earnings?

Riley Exploration Permian, Inc. (NYSE:REPX) – Analysts at Roth Capital boosted their FY2024 EPS estimates for Riley Exploration Permian in a research note issued to investors on Monday, November 18th. Roth Capital analyst J. White now anticipates that the company will earn $6.39 per share for the year, up from their previous forecast 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 raised their price objective on Riley Exploration Permian from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

Riley Exploration Permian Stock Performance

NYSE:REPX opened at $36.85 on Thursday. The firm’s fifty day simple moving average is $28.96 and its 200 day simple moving average is $27.94. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. Riley Exploration Permian has a twelve month low of $21.27 and a twelve month high of $36.92. The firm has a market capitalization of $791.54 million, a price-to-earnings ratio of 6.36 and a beta of 1.34.

Riley Exploration Permian Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were given a $0.38 dividend. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, October 24th. This represents a $1.52 annualized dividend and a yield of 4.12%. Riley Exploration Permian’s dividend payout ratio (DPR) is 26.95%.

Insider Activity

In related news, CEO Bobby Riley sold 8,981 shares of the 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 completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riley Exploration Permian

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC increased its stake in shares of Riley Exploration Permian by 167.2% in the third quarter. Barclays PLC now owns 17,574 shares of the company’s stock worth $464,000 after buying an additional 10,997 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Riley Exploration Permian by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 237,996 shares of the company’s stock worth $6,306,000 after purchasing an additional 41,020 shares during the last quarter. State Street Corp raised its stake in shares of Riley Exploration Permian by 2.5% in the 3rd quarter. State Street Corp now owns 200,881 shares of the company’s stock valued at $5,321,000 after purchasing an additional 4,927 shares in the last quarter. ClearAlpha Technologies LP bought a new position in shares of Riley Exploration Permian during the third quarter worth about $250,000. Finally, PDT Partners LLC grew its stake in Riley Exploration Permian by 86.7% in the third quarter. PDT Partners LLC now owns 29,346 shares of the company’s stock worth $777,000 after purchasing an additional 13,627 shares in the last quarter. 58.91% of the stock is owned by institutional investors and hedge funds.

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.