FY2024 EPS Estimates for PR Lifted by Capital One Financial

Permian Resources Co. (NYSE:PR) – Stock analysts at Capital One Financial upped their FY2024 EPS estimates for shares of Permian Resources in a research note issued to investors on Monday, January 27th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $1.43 for the year, up from their prior forecast of $1.41. The consensus estimate for Permian Resources’ current full-year earnings is $1.44 per share.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share 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 in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 60.3% on a year-over-year basis.

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

Permian Resources Price Performance

NYSE PR opened at $15.11 on Tuesday. The business’s fifty day moving average is $14.96 and its 200 day moving average is $14.59. Permian Resources has a fifty-two week low of $12.59 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $12.14 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 4.60 and a beta of 4.32.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase 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 3.97%. Permian Resources’s dividend payout ratio is presently 36.36%.

Insider Activity

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s 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 transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Permian Resources

Large investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in shares of Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after buying an additional 1,998 shares during the period. ORG Wealth Partners LLC acquired a new position in Permian Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. boosted its position in Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after purchasing an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. grew its stake 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 worth $43,000 after purchasing an additional 800 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 2,629 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.