14 Best 52-Week High Stocks To Buy According to Analysts

5. Riley Exploration Permian Inc (NYSE:REPX)

52 Week Range: $21.27 -$ 37.15

Current Share Price: $35.31

Stock Upside Potential: 50.36%

Number of Hedge Fund Holders: 11

Riley Exploration Permian, Inc. (NYSE:REPX) is an independent oil and natural gas company that engages in acquiring, developing, and producing oil, natural gas, and natural gas liquids. It was one of the best-performing energy stocks rallying by 55% in 2024 even as the overall sector came under pressure with oil prices plunging below $70 a barrel.

The stock’s rally to 52-week highs came on Riley Exploration delivering solid financial results in a challenging market environment characterized by depressed oil prices. Revenue in the quarter totaled $102.34 million, slightly below the $108.29 million a year ago, beating estimates by 0.67%. Operating cash flow improved quarter over quarter to $72.1 million despite lower oil prices and was driven by higher production and improved commodity hedge settlements.

Riley Exploration Permian, Inc.’s (NYSE:REPX) anticipated 14% to 15% annual growth in oil production for 2024 demonstrates its dedication to long-term value creation and operational excellence. Infrastructure investment and organic development are anticipated to be the primary drivers of this growth. Riley Exploration also generated $99 million in free cash flow, of which $70 million was used for debt reduction and $23 million for dividend payments.