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

Permian Resources Co. (NASDAQ:PR) – Stock analysts at Capital One Financial dropped their Q3 2024 earnings per share estimates for Permian Resources in a research note issued on Monday, August 12th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $0.40 per share for the quarter, down from their prior 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.

Permian Resources (NASDAQ:PR) last announced its 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 company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. Permian Resources’s quarterly revenue was up 99.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS.

Other analysts have also issued reports about the company. Wolfe Research began coverage on Permian Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial boosted their price objective on Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Susquehanna lowered their price objective on Permian Resources from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. UBS Group lowered their price objective on Permian Resources from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Bank of America reissued a “buy” rating and issued a $20.00 price objective on shares of Permian Resources in a report on Friday, June 14th. Two 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Permian Resources Price Performance

Shares of PR stock opened at $15.09 on Wednesday. The firm has a fifty day moving average of $15.52 and a two-hundred day moving average of $15.90. The firm 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 1-year low of $12.19 and a 1-year high of $18.28. 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 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 given a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.59%. Permian Resources’s dividend payout ratio (DPR) is 21.82%.

Institutional Investors Weigh In On Permian Resources

A number of institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of Permian Resources during the 1st quarter valued at $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of Permian Resources during the 1st quarter valued at $26,000. Parallel Advisors LLC lifted its position in shares of Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after acquiring an additional 1,178 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Permian Resources during the 2nd quarter valued at $30,000. Finally, Rise Advisors LLC acquired a new stake in shares of Permian Resources during the 1st quarter valued at $32,000. 91.84% of the stock is currently 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.