Q1 2024 Earnings Estimate for Riley Exploration Permian, Inc. (NYSE:REPX) Issued By Roth Capital

Riley Exploration Permian, Inc. (NYSE:REPX - Free Report) - Equities researchers at Roth Capital decreased their Q1 2024 earnings estimates for Riley Exploration Permian in a research report issued to clients and investors on Wednesday, April 10th. Roth Capital analyst J. White now expects that the company will post earnings per share of $1.54 for the quarter, down from their previous estimate of $1.57. The consensus estimate for Riley Exploration Permian's current full-year earnings is $6.89 per share. Roth Capital also issued estimates for Riley Exploration Permian's FY2024 earnings at $7.29 EPS.

Riley Exploration Permian (NYSE:REPX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.91). Riley Exploration Permian had a return on equity of 25.08% and a net margin of 29.75%. The company had revenue of $99.83 million for the quarter, compared to the consensus estimate of $94.77 million.

Riley Exploration Permian Stock Down 2.0 %

Shares of REPX stock traded down $0.59 during trading hours on Thursday, hitting $29.41. 241,326 shares of the company were exchanged, compared to its average volume of 123,958. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.61 and a current ratio of 0.67. Riley Exploration Permian has a one year low of $21.27 and a one year high of $47.02. The business's 50-day simple moving average is $26.67 and its two-hundred day simple moving average is $27.06. The stock has a market capitalization of $599.86 million, a price-to-earnings ratio of 5.27 and a beta of 1.26.

Riley Exploration Permian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Investors of record on Thursday, January 25th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $1.44 annualized dividend and a yield of 4.90%. Riley Exploration Permian's dividend payout ratio (DPR) is 25.81%.

Insider Buying and Selling

In related news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the sale, the insider now owns 4,521,767 shares in the company, valued at $115,395,493.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Riley Exploration Ho Bluescape sold 700,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $25.52, for a total transaction of $17,864,000.00. Following the sale, the insider now owns 4,521,767 shares in the company, valued at $115,395,493.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bobby Riley sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.21, for a total transaction of $423,150.00. Following the completion of the sale, the chief executive officer now 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 764,346 shares of company stock worth $19,400,137 over the last quarter. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in REPX. JPMorgan Chase & Co. increased its stake in shares of Riley Exploration Permian by 872.4% during the first quarter. JPMorgan Chase & Co. now owns 33,752 shares of the company's stock valued at $846,000 after acquiring an additional 30,281 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Riley Exploration Permian by 13.7% during the first quarter. Bank of New York Mellon Corp now owns 204,226 shares of the company's stock valued at $5,122,000 after acquiring an additional 24,588 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Riley Exploration Permian during the first quarter valued at approximately $180,000. Rhumbline Advisers acquired a new position in shares of Riley Exploration Permian during the first quarter valued at approximately $277,000. Finally, BlackRock Inc. increased its stake in shares of Riley Exploration Permian by 248.5% during the first quarter. BlackRock Inc. now owns 531,585 shares of the company's stock valued at $13,332,000 after acquiring an additional 379,047 shares during the period. Institutional investors and hedge funds own 58.91% 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.