Q4 Earnings Forecast for PR Issued By Capital One Financial

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

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

Permian Resources Price Performance

Shares of NYSE PR opened at $15.04 on Wednesday. The firm has a market cap of $12.08 billion, a P/E ratio of 9.11, a PEG ratio of 4.60 and a beta of 4.32. Permian Resources has a twelve month low of $12.59 and a twelve month high of $18.28. 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 has a 50 day moving average of $14.94 and a 200 day moving average of $14.59.

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

Institutional Trading of Permian Resources

A number of large investors have recently made changes to their positions in the business. Wright Investors Service Inc. purchased a new stake in shares of Permian Resources in the fourth quarter valued at $498,000. Point72 Asset Management L.P. raised its position in Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after purchasing an additional 2,023,742 shares during the period. Tributary Capital Management LLC lifted its stake in Permian Resources by 8,360.8% in the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock worth $699,000 after purchasing an additional 50,750 shares during the last quarter. South Street Advisors LLC purchased a new position in shares of Permian Resources during the third quarter valued at approximately $7,142,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Permian Resources during the third quarter valued at approximately $556,000. 91.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.80% of the stock is currently owned by insiders.

Permian Resources Increases Dividend

The company also recently disclosed 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. This represents a $0.60 annualized dividend and a dividend yield of 3.99%. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. Permian Resources’s dividend payout ratio (DPR) is presently 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.