Capital One Financial Has Pessimistic View of PR Q4 Earnings

Permian Resources Co. (NYSE:PR) – Capital One Financial reduced their Q4 2024 EPS estimates for Permian Resources in a note issued to investors on Monday, November 18th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.32. The consensus estimate for Permian Resources’ current full-year earnings is $1.47 per share.

Several other analysts also recently weighed in on the company. Piper Sandler boosted their price target on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday. Susquehanna dropped their target price on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company reduced their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Mizuho dropped their price objective on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on shares of Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 target price for the company. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources Price Performance

Shares of PR opened at $15.15 on Tuesday. The firm has a market capitalization of $12.17 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 0.89 and a beta of 4.34. 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 company’s fifty day moving average price is $14.07 and its 200-day moving average price is $14.98. Permian Resources has a 1-year low of $12.34 and a 1-year high of $18.28.

Permian Resources (NYSE:PR) last released its 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. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources’s revenue was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS.

Institutional Trading of Permian Resources

Large investors have recently made changes to their positions in the company. Simplicity Wealth LLC raised its holdings in Permian Resources by 5.2% in the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock valued at $212,000 after acquiring an additional 646 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Permian Resources by 19.6% in the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after purchasing an additional 716 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in Permian Resources by 3.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after buying an additional 781 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Permian Resources by 33.4% during the third 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. Finally, Larson Financial Group LLC grew its holdings in Permian Resources by 0.5% in the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after buying an additional 949 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $1,075,911.41. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be issued a $0.15 dividend. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, November 14th. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

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.