FY2024 EPS Estimates for PR Boosted by Capital One Financial

Permian Resources Co. (NYSE:PR) – Investment analysts at Capital One Financial upped their FY2024 EPS estimates for shares of Permian Resources in a note issued to investors on Monday, November 18th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $1.41 per share for the year, up from their previous estimate of $1.39. The consensus estimate for Permian Resources’ current full-year earnings is $1.47 per share. Capital One Financial also issued estimates for Permian Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.47 EPS.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating 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 the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 60.3% on a year-over-year basis.

Several other analysts have also weighed in on the company. Citigroup decreased their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. Truist Financial raised their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Mizuho lowered their price target on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, 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 Monday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources Price Performance

Shares of NYSE:PR opened at $15.13 on Wednesday. Permian Resources has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $12.15 billion, a P/E ratio of 9.17, a P/E/G ratio of 0.89 and a beta of 4.34. The business has a 50-day moving average of $14.12 and a two-hundred day moving average of $14.97.

Hedge Funds Weigh In On Permian Resources

A number of institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its holdings in 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 buying an additional 1,998 shares during the period. Innealta Capital LLC purchased a new position in shares of Permian Resources during the 2nd quarter valued at about $30,000. Transcendent Capital Group LLC purchased a new stake in shares of Permian Resources during the 1st quarter worth about $36,000. UMB Bank n.a. lifted its holdings in Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of Permian Resources during the second quarter valued at approximately $40,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The trade was a 7.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.80% of the company’s stock.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.15 per share. 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 yield of 3.97%. The ex-dividend date is Thursday, November 14th. Permian Resources’s payout ratio is presently 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.