Q3 2024 EPS Estimates for Permian Resources Co. Reduced by Capital One Financial (NYSE:PR)

Permian Resources Co. (NYSE:PR) – Stock analysts at Capital One Financial lowered their Q3 2024 earnings per share estimates for Permian Resources in a research note issued to investors on Monday, October 14th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $0.31 for the quarter, down from their previous forecast of $0.33. The consensus estimate for Permian Resources’ current full-year earnings is $1.49 per share. Capital One Financial also issued estimates for Permian Resources’ Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.39 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.33 EPS and FY2025 earnings at $1.36 EPS.

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

A number of other brokerages also recently weighed in on PR. JPMorgan Chase & Co. lowered their price objective on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Wolfe Research began coverage on shares of Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Wednesday, August 7th. Wells Fargo & Company reduced their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Mizuho cut their price objective on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.93.

Permian Resources Stock Performance

Permian Resources stock opened at $13.58 on Tuesday. The firm’s fifty day moving average price is $14.07 and its 200 day moving average price is $15.52. Permian Resources has a 12-month low of $12.34 and a 12-month high of $18.28. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.85 and a beta of 4.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.77%. Permian Resources’s payout ratio is presently 21.82%.

Insiders Place Their Bets

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction on 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 in the company, valued at $855,288.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Charles Bell sold 4,821 shares of the business’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 sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its position in Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares in the last quarter. Innealta Capital LLC purchased a new stake in Permian Resources during the second quarter valued at $30,000. Rise Advisors LLC bought a new stake in shares of Permian Resources during the 1st quarter valued at $32,000. Transcendent Capital Group LLC bought a new stake in Permian Resources during the 1st quarter valued at approximately $36,000. Finally, UMB Bank n.a. raised its position in shares of Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after buying an additional 1,390 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.