Oil and gas producer Riley Exploration Permian (NYSE: REPX) will be reporting results this Wednesday after market hours. Here’s what to look for.
Riley Exploration Permian missed analysts’ revenue expectations last quarter, reporting revenues of $97.28 million, down 5.3% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Riley Exploration Permian a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Riley Exploration Permian’s revenue to grow 6.5% year on year, improving from the 2.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Riley Exploration Permian has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Riley Exploration Permian’s peers in the u.s. shale e&p segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Crescent Energy delivered year-on-year revenue growth of 24.5%, meeting analysts’ expectations, and Diamondback Energy reported revenues up 4.7%, topping estimates by 10.5%.
Read our full analysis of Crescent Energy’s results here and Diamondback Energy’s results here.
There has been positive sentiment among investors in the u.s. shale e&p segment, with share prices up 5.1% on average over the last month. Riley Exploration Permian’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $48 (compared to the current share price of $36.52).
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