Key Highlights

  • Riley Exploration Permian shares gained 26.73% over one month to $51.70 as of Friday, October 23, 2026, with 8.90% coming in the past week.
  • The quarterly dividend was raised 5% to $0.42 from $0.40 per share, announced October 14.
  • Third-quarter oil production is guided to 25.1 to 26.1 thousand barrels per day, up from 21.2 thousand in the second quarter.
  • Second-quarter revenue was $166 million, nearly double the $85 million of a year earlier.
  • Debt was $273 million, or 1.0 times adjusted EBITDAX, at June 30, 2026.

Riley Permian Stock: What Lifted Shares 26.73% in a Month?

Riley Exploration Permian (NYSEAMERICAN:REPX) rose 26.73% over one month to $51.70 as screened on Friday, October 23, 2026, with gains of 8.90% over one week and 1.16% on the day. Three drivers show up in the record: higher crude, a dividend increase announced October 14, and a production ramp the company guided to in August.

Energy Minerals gained 12.70% over the same month, so the stock beat its sector by a calculated 14.03 percentage points. Research firms also lifted targets around October 22, with one moving to $57 from $41 and another to $60 from $45, ahead of third-quarter results.

The company said oil output should rise more than 20% sequentially in the third quarter and about 30% year over year in 2026, which gives the market a visible growth path.

Production Ramp: Why Does the Fourth-Quarter Pipeline Matter?

Riley Permian, an Oklahoma City company producing oil from the Permian Basin in Texas and New Mexico, averaged 34.3 thousand barrels of oil equivalent per day in the second quarter, up from 24.4 thousand a year earlier. An outside gas processing outage shut in about 1.9 thousand barrels of oil per day.

Targa Resources (NYSE:TRGP) is building gathering and high-pressure trunkline capacity in Eddy County, New Mexico, expected in service in the fourth quarter. The company guided third-quarter oil output to 25.1 to 26.1 thousand barrels per day and raised its 2026 oil range to 22.5 to 23.5 thousand.

Second-Quarter Results: How Strong Were Earnings and Cash Flow?

Second-quarter revenue was $166 million and net income was $87 million, or $4.11 per diluted share. Net income included a $69 million non-cash unrealized derivative gain, and adjusted net income was $33 million, or $1.54 per share, on adjusted EBITDAX of $80 million.

Realized oil was $94.28 per barrel before derivatives, and $74.25 after settlements. Free cash flow was $6 million, and debt of $273 million equaled 1.0 times adjusted EBITDAX.

Hedges limit the upside from crude near $100. Fourth-quarter swaps cover 820,000 barrels at about $61.42, while WTI crossed $100 on Friday, October 16, and Brent settled near $111.70 on October 22.

Valuation and Dividend: What Comes After the Move?

The market value is about $1.13 billion, the trailing price-to-earnings ratio is 9.13 and the forward ratio is 5.66. The new $1.68 annualized dividend carries an ex-dividend date of October 28. Third-quarter results are expected around November 4, when production, the pipeline timetable and capital spending guidance of $230 million to $242 million for 2026 will be updated.