Capital One Financial Has Pessimistic View of PR Q4 Earnings

Permian Resources Co. (NYSE:PR - Free Report) - Research analysts at Capital One Financial lowered their Q4 2024 earnings estimates for Permian Resources in a report released on Monday, November 18th. Capital One Financial analyst P. Johnston now forecasts 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.

Several other equities analysts also recently weighed in on PR. Truist Financial boosted their price target on shares of Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. UBS Group dropped their price target on Permian Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Mizuho reduced their price objective on Permian Resources from $22.00 to $19.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Susquehanna cut their target price on Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and an average price target of $18.93.

Permian Resources Price Performance

NYSE PR traded down $0.03 during mid-day trading on Tuesday, hitting $15.13. The stock had a trading volume of 7,967,829 shares, compared to its average volume of 10,056,536. Permian Resources has a twelve month low of $12.34 and a twelve month 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 firm's 50 day moving average is $14.12 and its 200 day moving average is $14.97. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.89 and a beta of 4.34.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company's revenue for the quarter was up 60.3% on a year-over-year basis.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date 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%.

Insider Transactions at Permian Resources

In related news, CAO Robert Regan Shannon sold 4,822 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction 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 represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company's stock, valued at $1,075,911.41. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Permian Resources

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in shares of Permian Resources by 38.0% in the first quarter. Janney Montgomery Scott LLC now owns 22,253 shares of the company's stock valued at $393,000 after acquiring an additional 6,126 shares during the period. Vanguard Group Inc. increased its holdings in shares of Permian Resources by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company's stock valued at $949,189,000 after purchasing an additional 5,432,654 shares in the last quarter. American International Group Inc. lifted its stake in shares of Permian Resources by 10.4% in the first quarter. American International Group Inc. now owns 830,432 shares of the company's stock valued at $14,665,000 after purchasing an additional 78,146 shares during the period. Vident Advisory LLC acquired a new position in Permian Resources during the first quarter worth about $14,696,000. Finally, EntryPoint Capital LLC purchased a new position in Permian Resources in the first quarter valued at about $71,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

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.