Q4 Earnings Forecast for PR Issued By Capital One Financial

Permian Resources Co. (NYSE:PR - Free Report) - Stock analysts at Capital One Financial increased their Q4 2024 earnings 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 earn $0.33 per share for the quarter, up from their previous estimate of $0.31. The consensus estimate for Permian Resources' current full-year earnings is $1.44 per share.

A number of other research firms have also recently issued reports on PR. Truist Financial lifted their target price on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Morgan Stanley initiated coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an "overweight" rating and a $19.00 price objective for the company. Piper Sandler upped their price objective on Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday. Benchmark cut their target price on shares of Permian Resources from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.13.

Permian Resources Price Performance

Shares of PR stock traded up $0.23 during trading hours on Wednesday, reaching $15.11. The company's stock had a trading volume of 6,925,440 shares, compared to its average volume of 7,660,847. Permian Resources has a fifty-two week low of $12.59 and a fifty-two week high of $18.28. The firm's 50 day simple moving average is $14.96 and its 200-day simple moving average is $14.59. 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 market capitalization of $12.14 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 4.60 and a beta of 4.32.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 60.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. This is a positive change from Permian Resources's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 3.97%. Permian Resources's dividend payout ratio (DPR) is currently 36.36%.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares in the company, valued at $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 is available at this hyperlink. 12.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Permian Resources

Institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its stake in Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after purchasing an additional 1,998 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources in the 4th quarter valued at about $31,000. UMB Bank n.a. boosted its holdings in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock valued at $38,000 after acquiring an additional 1,390 shares during the period. Sunbelt Securities Inc. grew its position in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after acquiring an additional 800 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after purchasing an additional 2,629 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

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.