12 High Growth Oil Stocks to Buy

Page 9 of 11

3. Riley Exploration Permian Inc. (NYSE:REPX)

Revenue growth past 5 years: 129.65%

Riley Exploration Permian Inc. (NYSE:REPX) is an independent oil and natural gas company focused on the acquisition, exploration, and production of hydrocarbons in the Permian Basin. With a 5-year revenue growth of nearly 130%, REPX is one of the best high growth stocks to buy.

In December 2024, Riley Exploration Permian Inc. (NYSE:REPX) completed an amendment to its senior secured revolving credit facility, extending its maturity from April 2026 to December 2028. It increased the borrowing base by 7% from $375 million to $400 million. This move enhances the company’s financial flexibility and supports its growth initiatives in the Permian Basin.

Riley Exploration Permian Inc. (NYSE:REPX) reported Q3 2024 results, with $102.3 million in revenue and $72.1 million in operating cash flow. The company generated $37.8 million in free cash flow, helping reduce $35 million in total debt while paying $8.1 million in dividends. Net income stood at $25.7 million, while adjusted net income was $31.5 million. Production averaged 23,400 barrels of oil equivalent per day, a 6% increase in oil output quarter-over-quarter, driven by additional processing capacity.

On January 13, 2025, Truist Securities maintained its Buy rating on the stock, raising its price target from $45 to $47.

Page 9 of 11