What is Capital One Financial’s Forecast for PR Q4 Earnings?

Permian Resources Co. (NYSE:PR) – Capital One Financial lowered their Q4 2024 EPS estimates for shares of Permian Resources in a research note issued on Monday, November 18th. Capital One Financial analyst P. Johnston now expects that the company will earn $0.31 per share for the quarter, down from their prior estimate of $0.32. The consensus estimate for Permian Resources’ current full-year earnings is $1.47 per share.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion for 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 firm’s revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share.

A number of other brokerages also recently commented on PR. UBS Group reduced their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. The Goldman Sachs Group initiated coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price target on the stock. Wells Fargo & Company lowered their price objective on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Citigroup reduced their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler increased their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.93.

Permian Resources Stock Down 0.2 %

NYSE PR opened at $15.13 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources has a 52 week low of $12.34 and a 52 week high of $18.28. The business’s fifty day simple moving average is $14.12 and its 200-day simple moving average is $14.97. The firm has a market cap of $12.15 billion, a PE ratio of 9.17, a P/E/G ratio of 0.89 and a beta of 4.34.

Hedge Funds Weigh In On Permian Resources

Several hedge funds have recently added to or reduced their stakes in PR. Innealta Capital LLC acquired a new stake in shares of Permian Resources in the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC grew its position in shares of Permian Resources by 28,542.9% during 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 during the last quarter. Transcendent Capital Group LLC purchased a new stake in Permian Resources in the 1st quarter valued at $36,000. Gilliland Jeter Wealth Management LLC acquired a new stake in Permian Resources during the 2nd quarter worth $40,000. Finally, UMB Bank n.a. grew its position in Permian Resources by 99.2% during 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 during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Permian Resources

In other news, CAO Robert Regan Shannon sold 4,822 shares of the firm’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 $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 7.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 4,821 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 value of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a yield of 3.97%. Permian Resources’s dividend payout ratio is 36.36%.

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.