Capital One Financial Has Negative View of PR Q4 Earnings

Permian Resources Co. (NYSE:PR) – Equities researchers at Capital One Financial decreased their Q4 2024 earnings per share (EPS) estimates for Permian Resources in a note issued to investors 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.

A number of other brokerages have also recently weighed in on PR. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. The Goldman Sachs Group assumed coverage on shares of Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 target price for the company. Susquehanna decreased their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Piper Sandler lifted their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Truist Financial increased their target price on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.93.

Permian Resources Stock Up 2.4 %

Shares of PR opened at $15.15 on Tuesday. The company’s 50-day moving average price is $14.07 and its 200 day moving average price is $14.98. Permian Resources has a 12-month low of $12.34 and a 12-month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.17 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 0.89 and a beta of 4.34.

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

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, November 14th. Permian Resources’s dividend payout ratio is presently 36.36%.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Permian Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Permian Resources by 7.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 171,010 shares of the company’s stock worth $2,327,000 after purchasing an additional 12,110 shares during the last quarter. Sunbelt Securities Inc. grew its stake 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 buying an additional 800 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Permian Resources during the third quarter worth approximately $2,172,000. Coldstream Capital Management Inc. purchased a new stake in Permian Resources in the third quarter valued at approximately $169,000. Finally, First Dallas Securities Inc. boosted its holdings in shares of Permian Resources by 3.9% in the third quarter. First Dallas Securities Inc. now owns 43,020 shares of the company’s stock valued at $586,000 after acquiring an additional 1,633 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.