FY2024 EPS Estimate for Permian Resources Lifted by Analyst

Permian Resources Co. (NYSE:PR) – Equities research analysts at Capital One Financial boosted their FY2024 earnings per share estimates for shares of Permian Resources in a report released on Monday, November 18th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $1.41 for the year, up from their prior estimate of $1.39. The consensus estimate for Permian Resources’ current full-year earnings is $1.47 per share. Capital One Financial also issued estimates for Permian Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.47 EPS.

Other equities research analysts have also issued research reports about the stock. Mizuho decreased their price objective on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Citigroup dropped their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group started coverage on Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 target price for the company. Piper Sandler increased their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Susquehanna decreased their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources Stock Up 3.3 %

Shares of PR opened at $15.97 on Wednesday. The business’s 50 day simple moving average is $14.22 and its 200-day simple moving average is $14.98. Permian Resources has a 1 year low of $12.34 and a 1 year high of $18.28. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 0.91 and a beta of 4.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 60.3% on a year-over-year basis.

Institutional Trading of Permian Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simplicity Wealth LLC boosted its position in shares of Permian Resources by 5.2% during the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after buying an additional 646 shares during the period. GAMMA Investing LLC boosted its holdings in Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after acquiring an additional 716 shares during the period. Mount Yale Investment Advisors LLC grew its position in Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock valued at $454,000 after acquiring an additional 781 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Permian Resources by 0.5% during the second quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock worth $3,379,000 after purchasing an additional 949 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The trade was a 7.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.76%. Permian Resources’s dividend payout ratio is presently 36.36%.

About Permian Resources

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.