Riley Exploration Permian Q3 revenue jumps on higher output

Overview

• U.S. oil and gas producer's Q3 revenue rose yr/yr on higher oil and gas output

• Company reported Q3 net loss of $2 mln, mainly due to derivative losses

• Company raised quarterly dividend by 5% to $0.42 per share after quarter-end

Outlook

• Company guides Q4 2026 capital expenditures at $74-86 mln

Result Drivers

• NEW WELLS AND RETURNED PRODUCTION - Co said higher output was driven by new wells and return to production of New Mexico wells after prior disruptions

• NATURAL GAS AND NGL PRICES - Co said improved realized prices for natural gas and NGLs contributed to revenue growth

• LOWER OPERATING COSTS - Co said improved per-unit operating costs helped margins

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Riley Exploration Permian Inc is $58.50, about 24.7% above its November 3 closing price of $46.93

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads

• Nov 4 - Permian Resources Q3 production rises 22% on acquisitions and cost control

• Nov 2 - Diamondback Energy Q3 revenue beats on higher oil output

• Nov 3 - SM Energy Q3 profit misses on operational downtime

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)