What is Capital One Financial’s Forecast for PR Q4 Earnings?

Permian Resources Co. (NYSE:PR) – Equities researchers at Capital One Financial increased their Q4 2024 earnings estimates for shares of Permian Resources in a research note issued on Monday, January 27th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $0.33 per share for the quarter, up from their prior forecast of $0.31. The consensus estimate for Permian Resources’ current full-year earnings is $1.44 per share.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a report on Monday, October 14th. Benchmark cut their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Truist Financial boosted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler increased their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.13.

Permian Resources Price Performance

PR opened at $15.04 on Wednesday. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 4.60 and a beta of 4.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources has a 12-month low of $12.59 and a 12-month high of $18.28. The business’s fifty day simple moving average is $14.94 and its 200-day simple moving average is $14.59.

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

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were paid 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 was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.99%. Permian Resources’s dividend payout ratio is presently 36.36%.

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Permian Resources

Several hedge funds and other institutional investors have recently bought and sold shares of PR. AQR Capital Management LLC increased its stake in shares of Permian Resources by 3.6% in the second quarter. AQR Capital Management LLC now owns 80,363 shares of the company’s stock worth $1,291,000 after acquiring an additional 2,793 shares during the period. Creative Planning grew its position in Permian Resources by 49.1% during the 2nd quarter. Creative Planning now owns 87,703 shares of the company’s stock worth $1,416,000 after purchasing an additional 28,868 shares during the period. Truist Financial Corp acquired a new stake in Permian Resources during the 2nd quarter worth about $9,473,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Permian Resources by 27.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 158,900 shares of the company’s stock valued at $2,566,000 after buying an additional 33,800 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Permian Resources in the 2nd quarter valued at about $607,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Company Profile

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.