Roth Capital Weighs in on Riley Exploration Permian, Inc.’s FY2024 Earnings (NYSE:REPX)

Riley Exploration Permian, Inc. (NYSE:REPX) – Analysts at Roth Capital reduced their FY2024 earnings estimates for Riley Exploration Permian in a research note issued to investors on Wednesday, October 9th. Roth Capital analyst J. White now expects that the company will earn $6.37 per share for the year, down from their prior estimate of $6.64. The consensus estimate for Riley Exploration Permian’s current full-year earnings is $6.64 per share.

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

Separately, Truist Financial decreased their price target on Riley Exploration Permian from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Riley Exploration Permian Price Performance

REPX stock opened at $28.56 on Friday. The stock has a market capitalization of $616.32 million, a price-to-earnings ratio of 5.03 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 has a 52-week low of $21.27 and a 52-week high of $34.90. The stock’s fifty day simple moving average is $26.96 and its 200-day simple moving average is $27.73.

Institutional Investors Weigh In On Riley Exploration Permian

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its position in 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 acquiring an additional 1,144 shares during the period. Ariadne Wealth Management LP bought a new stake in shares of Riley Exploration Permian during the second quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Riley Exploration Permian in the second quarter worth about $39,000. Point72 DIFC Ltd acquired a new position in Riley Exploration Permian during the 2nd quarter valued at about $51,000. Finally, Quest Partners LLC increased its stake in Riley Exploration Permian by 38.6% during the 2nd quarter. Quest Partners LLC now owns 3,815 shares of the company’s stock valued at $108,000 after buying an additional 1,062 shares during the period. 58.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Bobby Riley sold 6,302 shares of Riley Exploration Permian stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $26.52, for a total value of $167,129.04. Following the completion of the transaction, the chief executive officer now owns 335,356 shares in the company, valued at approximately $8,893,641.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% 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.