Brokers Issue Forecasts for Permian Resources Co.’s FY2024 Earnings (NASDAQ:PR)

Permian Resources Co. (NASDAQ:PR) – Investment analysts at Capital One Financial reduced their FY2024 earnings per share (EPS) estimates for shares of Permian Resources in a note issued to investors on Tuesday, September 3rd. Capital One Financial analyst P. Johnston now expects that the company will earn $1.61 per share for the year, down from their prior forecast of $1.62. The consensus estimate for Permian Resources’ current full-year earnings is $1.63 per share. Capital One Financial also issued estimates for Permian Resources’ Q3 2025 earnings at $0.47 EPS and FY2025 earnings at $1.86 EPS.

Permian Resources (NASDAQ:PR) last released its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm 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 firm’s revenue for the quarter was up 99.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Permian Resources in a research report on Monday, August 12th. Bank of America restated a “buy” rating and issued a $20.00 target price on shares of Permian Resources in a research report on Friday, June 14th. Citigroup cut their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wolfe Research initiated coverage on Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, UBS Group cut their price objective on Permian Resources from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two research 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’s stock. According to data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and a consensus target price of $19.93.

Permian Resources Stock Performance

PR opened at $13.48 on Wednesday. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. Permian Resources has a 1-year low of $12.34 and a 1-year high of $18.28. The business has a 50 day moving average price of $15.14 and a two-hundred day moving average price of $15.96.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.78%. Permian Resources’s payout ratio is currently 21.82%.

Insider Activity

In other news, EVP John Charles Bell sold 4,821 shares of the company’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 $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John Charles Bell sold 4,821 shares of the company’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 $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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. 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

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in Permian Resources during the first quarter worth $25,000. YHB Investment Advisors Inc. acquired a new position in Permian Resources during the first quarter worth $26,000. Rise Advisors LLC acquired a new position in Permian Resources during the first quarter worth $32,000. Innealta Capital LLC acquired a new position in Permian Resources during the second quarter worth $30,000. Finally, Transcendent Capital Group LLC acquired a new position in Permian Resources during the first quarter worth $36,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.