Q4 Earnings Forecast for PR Issued By Capital One Financial

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

A number of other research firms also recently commented on PR. Piper Sandler increased their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley initiated coverage on shares of Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. Benchmark reduced their price objective on shares of 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 reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. Finally, Truist Financial increased their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.13.

Permian Resources Stock Up 1.5 %

Permian Resources stock opened at $15.11 on Wednesday. The firm’s 50 day moving average price is $14.96 and its two-hundred day moving average price is $14.59. The firm has a market cap of $12.14 billion, a PE ratio of 9.16, a P/E/G 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 debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PR. Yaupon Capital Management LP grew its holdings in shares of Permian Resources by 225.0% during the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after purchasing an additional 2,595,137 shares during the last quarter. Point72 Asset Management L.P. raised its holdings 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 valued at $74,811,000 after buying an additional 2,023,742 shares during the last quarter. Perpetual Ltd acquired a new stake in Permian Resources during the 4th quarter worth approximately $27,104,000. Geode Capital Management LLC increased its holdings in Permian Resources by 17.6% in 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 period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Permian Resources by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock worth $247,042,000 after purchasing an additional 1,543,854 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.80% of the company’s stock.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a $0.15 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s payout ratio is currently 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.