Q3 2024 Earnings Estimate for Permian Resources Co. Issued By Capital One Financial (NASDAQ:PR)

Permian Resources Co. (NASDAQ:PR) – Capital One Financial decreased their Q3 2024 earnings per share estimates for shares of Permian Resources in a report released on Monday, August 12th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.43. The consensus estimate for Permian Resources’ current full-year earnings is $1.71 per share. Capital One Financial also issued estimates for Permian Resources’ Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.62 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.46 EPS, FY2025 earnings at $1.87 EPS and FY2026 earnings at $1.83 EPS.

A number of other research analysts have also recently weighed in on the company. Wolfe Research began coverage on Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets raised Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Wednesday, July 3rd. Bank of America reaffirmed a “buy” rating and set a $20.00 price objective on shares of Permian Resources in a research report on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Permian Resources in a report on Monday. Finally, Piper Sandler lowered their price target on Permian Resources from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Permian Resources Trading Up 2.9 %

Permian Resources stock opened at $15.09 on Wednesday. The business has a 50-day simple moving average of $15.52 and a two-hundred day simple moving average of $15.90. The company has a market cap of $11.62 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.57 and a beta of 4.37. Permian Resources has a 52-week low of $12.19 and a 52-week high of $18.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NASDAQ:PR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS.

Institutional Investors Weigh In On Permian Resources

Several hedge funds have recently made changes to their positions in PR. New York State Teachers Retirement System lifted its holdings in shares of Permian Resources by 26.1% in the 4th quarter. New York State Teachers Retirement System now owns 111,708 shares of the company’s stock worth $1,519,000 after buying an additional 23,108 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Permian Resources during the 4th quarter worth $33,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Permian Resources by 29.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,306 shares of the company’s stock worth $2,357,000 after purchasing an additional 39,489 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth $152,000. Finally, Simplicity Solutions LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth $152,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, August 19th. Permian Resources’s dividend payout ratio is 21.82%.

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.