Roth Capital Weighs in on Riley Exploration Permian, Inc.’s Q1 2024 Earnings (NYSE:REPX)

Riley Exploration Permian, Inc. (NYSE:REPX) – Research analysts at Roth Capital dropped their Q1 2024 EPS estimates for Riley Exploration Permian in a research note issued to investors on Wednesday, April 10th. Roth Capital analyst J. White now anticipates that the company will post earnings of $1.54 per share for the quarter, down from their prior forecast of $1.57. The consensus estimate for Riley Exploration Permian’s current full-year earnings is $7.14 per share. Roth Capital also issued estimates for Riley Exploration Permian’s FY2024 earnings at $7.29 EPS.

Riley Exploration Permian Price Performance

NYSE:REPX opened at $29.31 on Thursday. The business’s 50-day moving average price is $26.82 and its 200 day moving average price is $27.07. The firm has a market cap of $597.92 million, a P/E ratio of 5.25 and a beta of 1.26. Riley Exploration Permian has a 52-week low of $21.27 and a 52-week high of $47.02. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.80.

Riley Exploration Permian (NYSE:REPX) last released its earnings results on Wednesday, March 6th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.91). The firm had revenue of $99.83 million for the quarter, compared to analyst estimates of $94.77 million. Riley Exploration Permian had a return on equity of 25.08% and a net margin of 29.75%.

Riley Exploration Permian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, April 24th. Riley Exploration Permian’s payout ratio is currently 25.81%.

Insider Buying and Selling

In related news, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.21, for a total value of $423,150.00. Following the transaction, the chief executive officer now owns 364,198 shares of the company’s stock, valued at approximately $10,274,025.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of Riley Exploration Permian stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $25.52, for a total value of $17,864,000.00. Following the transaction, the insider now owns 4,521,767 shares of the company’s stock, valued at approximately $115,395,493.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bobby Riley sold 15,000 shares of Riley Exploration Permian stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.21, for a total value of $423,150.00. Following the completion of the transaction, the chief executive officer now directly owns 364,198 shares in the company, valued at approximately $10,274,025.58. The disclosure for this sale can be found here. Insiders have sold a total of 748,248 shares of company stock valued at $19,024,570 over the last three months. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Riley Exploration Permian

A number of institutional investors have recently bought and sold shares of REPX. JPMorgan Chase & Co. boosted its position in Riley Exploration Permian by 872.4% during the 1st quarter. JPMorgan Chase & Co. now owns 33,752 shares of the company’s stock worth $846,000 after acquiring an additional 30,281 shares during the period. Bank of New York Mellon Corp boosted its position in Riley Exploration Permian by 13.7% during the 1st quarter. Bank of New York Mellon Corp now owns 204,226 shares of the company’s stock worth $5,122,000 after acquiring an additional 24,588 shares during the period. MetLife Investment Management LLC acquired a new stake in Riley Exploration Permian during the 1st quarter worth about $180,000. Rhumbline Advisers acquired a new stake in Riley Exploration Permian during the 1st quarter worth about $277,000. Finally, BlackRock Inc. lifted its holdings in shares of Riley Exploration Permian by 248.5% during the 1st quarter. BlackRock Inc. now owns 531,585 shares of the company’s stock valued at $13,332,000 after buying an additional 379,047 shares during 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.