Q4 Earnings Forecast for PR Issued By Capital One Financial

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

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

Other analysts have also recently issued reports about the company. Morgan Stanley assumed coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Wells Fargo & Company decreased their price objective 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, Benchmark cut their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.06.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $14.87 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $14.96 and its two-hundred day simple moving average is $14.58. The firm has a market cap of $11.95 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 4.60 and a beta of 4.32. Permian Resources has a 12-month low of $12.59 and a 12-month high of $18.28.

Hedge Funds Weigh In On Permian Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PR. Hexagon Capital Partners LLC raised its stake in shares of 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 purchasing an additional 1,998 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Permian Resources in the 4th quarter worth about $31,000. UMB Bank n.a. lifted its stake in 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 acquiring an additional 1,390 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after acquiring an additional 800 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the period. 91.84% of the stock is owned by institutional investors.

Insider Activity

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

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.15 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Thursday, November 14th. Permian Resources’s dividend payout ratio is currently 36.36%.

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.