The company raised full-year 2026 oil production guidance to 22.5-23.5 MBbls/d, implying about 30% annual growth.
It expects third-quarter 2026 oil production of 25.1-26.1 MBbls/d and total output of 40.5-41.5 MBoe/d.
Riley Permian sees 2026 capital expenditures of $230-242 million and total investments of $239-252 million.
Analyst view and valuation
The current average analyst rating on the shares is "buy", with 5 strong buy or buy ratings, no hold ratings and no sell or strong sell ratings.
The median 12-month price target is $51.00, about 51.5% above the August 4 closing price of $33.66. The stock recently traded at 5 times next 12-month earnings, versus a P/E of 6 three months ago.
U.S. oil and gas producer Riley Exploration Permian said second-quarter revenue nearly doubled year over year to $166 million, while net income rose to $87 million. Oil production increased 40% year over year.
The company reported Q2 oil & gas sales of $165.85 million and adjusted EBITDAX of $80.11 million.
Production growth and operating constraints
Riley Permian said oil production was near the high end of guidance, driven by execution of its growth strategy.
The company also said gas processing and midstream constraints in New Mexico led to temporary well shut-ins and reduced production. It said realized natural gas prices were negative because of regional pipeline constraints.
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