FY2024 EPS Estimates for PR Increased by Analyst

Permian Resources Co. (NYSE:PR) – Equities researchers at Capital One Financial lifted their FY2024 EPS 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 $1.43 per share 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 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 60.3% on a year-over-year basis.

PR has been the topic of several other reports. Wells Fargo & Company dropped their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Benchmark reduced their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Finally, Morgan Stanley initiated coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.06.

Permian Resources Stock Performance

PR opened at $14.87 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources has a 1 year low of $12.59 and a 1 year high of $18.28. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 4.60 and a beta of 4.32. The business’s 50-day moving average price is $14.96 and its two-hundred day moving average price is $14.58.

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. 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. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio (DPR) is 36.36%.

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the business’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 value of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.80% of the stock is currently owned by company insiders.

Institutional Trading of Permian Resources

Institutional investors have recently modified their holdings of the company. Yaupon Capital Management LP boosted its holdings in shares of Permian Resources by 225.0% during the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after buying an additional 2,595,137 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Permian Resources by 58.3% in the third 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. Perpetual Ltd bought a new position in shares of Permian Resources during the fourth quarter valued at approximately $27,104,000. Geode Capital Management LLC lifted its holdings 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 valued at $148,957,000 after purchasing an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in 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 buying an additional 1,543,854 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.