Q4 Earnings Forecast for PR Issued By Capital One Financial

Permian Resources Co. (NYSE:PR) – Stock analysts at Capital One Financial reduced their Q4 2024 earnings per share estimates for shares of Permian Resources in a report issued on Monday, November 18th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.32. The consensus estimate for Permian Resources’ current full-year earnings is $1.47 per share.

Several other equities analysts have also recently issued reports on PR. JPMorgan Chase & Co. dropped their price target on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Mizuho cut their price target on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Susquehanna lowered their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. UBS Group lowered their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Benchmark cut their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources Stock Up 2.1 %

Shares of NYSE:PR opened at $15.45 on Tuesday. The firm has a fifty day moving average price of $14.17 and a 200 day moving average price of $14.97. Permian Resources has a 1-year low of $12.34 and a 1-year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $12.41 billion, a P/E ratio of 9.36, a P/E/G ratio of 0.89 and a beta of 4.34.

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

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be issued a $0.15 dividend. 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 3.88%. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Activity at Permian Resources

In other news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value 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 $855,288.07. The trade was a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the executive vice president now owns 77,237 shares of the company’s stock, 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. 12.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Permian Resources

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Permian Resources by 11.2% during the first quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company’s stock valued at $949,189,000 after acquiring an additional 5,432,654 shares during the period. State Street Corp raised its stake in shares of Permian Resources by 6.1% in the 3rd quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after acquiring an additional 1,263,460 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after acquiring an additional 1,543,854 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Permian Resources by 59.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock worth $194,585,000 after purchasing an additional 4,497,184 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Permian Resources by 17.6% during the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after purchasing an additional 1,638,618 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.