Capital One Financial Analysts Cut Earnings Estimates for Permian Resources Co. (NASDAQ:PR)

Permian Resources Co. (NASDAQ:PR) – Research analysts at Capital One Financial reduced their Q3 2024 earnings per share estimates for shares of Permian Resources in a report issued on Tuesday, September 17th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $0.33 per share for the quarter, down from their prior forecast of $0.40. The consensus estimate for Permian Resources’ current full-year earnings is $1.63 per share. Capital One Financial also issued estimates for Permian Resources’ Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.35 EPS and Q4 2025 earnings at $0.36 EPS.

Permian Resources (NASDAQ:PR) last posted its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on PR. Truist Financial increased their price target on Permian Resources from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Bank of America restated a “buy” rating and set a $20.00 target price on shares of Permian Resources in a report on Friday, June 14th. BMO Capital Markets upgraded shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Wednesday, July 3rd. Wolfe Research assumed coverage on shares of Permian Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler reduced their target price on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and an average price target of $19.50.

Permian Resources Price Performance

PR opened at $13.86 on Thursday. The company has a fifty day simple moving average of $14.66 and a 200 day simple moving average of $15.87. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.67 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.71 and a beta of 4.33. Permian Resources has a 12 month low of $12.34 and a 12 month high of $18.28.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.73%. Permian Resources’s payout ratio is presently 21.82%.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’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 completion of the sale, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at $855,288.07. The disclosure for this sale can be found here. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PR. YHB Investment Advisors Inc. bought a new position in Permian Resources in the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new position in shares of Permian Resources during the first quarter worth approximately $32,000. Innealta Capital LLC acquired a new stake in Permian Resources during the 2nd quarter worth approximately $30,000. Transcendent Capital Group LLC acquired a new stake in Permian Resources during the 1st quarter worth approximately $36,000. Finally, Parallel Advisors LLC boosted its stake in Permian Resources by 117.0% in the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after purchasing an additional 1,178 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.