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

Riley Exploration Permian, Inc. (NYSE:REPX) – Equities researchers at Roth Capital upped their FY2024 earnings estimates for Riley Exploration Permian in a research report issued on Monday, November 18th. Roth Capital analyst J. White now expects that the company will post earnings per share of $6.39 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 raised 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 2.1 %

NYSE:REPX opened at $35.87 on Thursday. The company’s 50 day moving average price is $28.75 and its 200-day moving average price is $27.88. Riley Exploration Permian has a 52 week low of $21.27 and a 52 week high of $36.24. 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 market cap of $770.49 million, a price-to-earnings ratio of 6.23 and a beta of 1.34.

Riley Exploration Permian Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th were issued a $0.38 dividend. This is an increase from Riley Exploration Permian’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Thursday, October 24th. Riley Exploration Permian’s payout ratio is currently 26.95%.

Insider Buying and Selling at Riley Exploration Permian

In other Riley Exploration Permian news, CEO Bobby Riley sold 8,981 shares of Riley Exploration Permian stock in a transaction on Tuesday, October 1st. The shares were 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 directly owns 326,375 shares of the company’s stock, valued at $8,645,673.75. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Riley Exploration Permian

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in shares of Riley Exploration Permian by 1,191.7% in the 2nd quarter. CWM LLC now owns 1,240 shares of the company’s stock valued at $35,000 after purchasing an additional 1,144 shares in the last quarter. Ariadne Wealth Management LP bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $39,000. Copeland Capital Management LLC bought a new stake in shares of Riley Exploration Permian in the 3rd quarter valued at about $48,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Riley Exploration Permian in the 2nd quarter valued at about $51,000. 58.91% of the stock is owned by hedge funds and other institutional investors.

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.