Capital One Financial Analysts Boost Earnings Estimates for Permian Resources Co. (NASDAQ:PR)

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Permian Resources Co. (NASDAQ:PR – Free Report) – Capital One Financial increased their Q3 2024 earnings per share (EPS) estimates for Permian Resources in a report released on Wednesday, May 8th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $0.46 per share for the quarter, up from their previous forecast of $0.42. The consensus estimate for Permian Resources’ current full-year earnings is $1.66 per share. Capital One Financial also issued estimates for Permian Resources’ Q4 2024 earnings at $0.47 EPS.

Permian Resources (NASDAQ:PR – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%.

A number of other brokerages also recently weighed in on PR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Friday, April 12th. Mizuho increased their price objective on Permian Resources from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their target price on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Citigroup boosted their target price on shares of Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Susquehanna raised their target price on Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.38.

Get Our Latest Analysis on Permian Resources

Permian Resources Stock Down 2.6 %

Permian Resources stock opened at $16.58 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The firm has a market cap of $12.80 billion, a P/E ratio of 14.29 and a beta of 4.32. The business has a fifty day moving average of $17.07 and a two-hundred day moving average of $14.85. Permian Resources has a twelve month low of $8.94 and a twelve month high of $18.28.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.06 per share. This is a boost from Permian Resources’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, May 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.45%. Permian Resources’s dividend payout ratio (DPR) is presently 17.24%.

Insider Activity

In other Permian Resources news, Director William J. Quinn sold 18,076,849 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $15.71, for a total value of $283,987,297.79. Following the completion of the transaction, the director now owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director William J. Quinn sold 18,076,849 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $15.71, for a total transaction of $283,987,297.79. Following the completion of the transaction, the director now directly owns 71,056,620 shares of the company’s stock, valued at approximately $1,116,299,500.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the sale, the chief accounting officer now directly owns 1,047,610 shares in the company, valued at approximately $15,337,010.40. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock valued at $516,796,999 in the last three months. 12.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Permian Resources

A number of institutional investors and hedge funds have recently modified their holdings of PR. Mark Sheptoff Financial Planning LLC raised its stake in Permian Resources by 1,350.0% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 11,600 shares of the company’s stock valued at $205,000 after purchasing an additional 10,800 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Permian Resources by 11.2% in the first quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company’s stock valued at $949,189,000 after buying an additional 5,432,654 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Permian Resources in the first quarter worth about $640,000. Lord Abbett & CO. LLC boosted its position in Permian Resources by 16.0% during the first quarter. Lord Abbett & CO. LLC now owns 5,651,316 shares of the company’s stock worth $99,803,000 after acquiring an additional 779,433 shares during the last quarter. Finally, Midwest Professional Planners LTD. purchased a new stake in Permian Resources during the 1st quarter valued at about $1,048,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Permian Resources (NASDAQ:PR)



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