Q3 2024 EPS Estimates for Permian Resources Co. Boosted by Analyst (NASDAQ:PR)

Permian Resources Co. (NASDAQ:PR) – Roth Capital upped their Q3 2024 EPS estimates for Permian Resources in a report released on Wednesday, August 7th. Roth Capital analyst L. Mariani now forecasts that the company will earn $0.33 per share for the quarter, up from their prior forecast of $0.29. The consensus estimate for Permian Resources’ current full-year earnings is $1.72 per share. Roth Capital also issued estimates for Permian Resources’ Q4 2024 earnings at $0.36 EPS.

Several other research firms have also recently weighed in on PR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Permian Resources in a research note on Tuesday, July 30th. UBS Group cut their target price on shares of Permian Resources from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial raised their target price on shares of Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Mizuho raised their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wolfe Research started coverage on shares of Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.14.

Permian Resources Stock Performance

Shares of NASDAQ PR opened at $14.61 on Friday. The firm has a fifty day moving average price of $15.56 and a 200-day moving average price of $15.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market cap of $11.25 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.53 and a beta of 4.37. Permian Resources has a 1 year low of $12.10 and a 1 year high of $18.28.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) 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 analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 12.45%. The company’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 company posted $0.27 earnings per share.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.64%. Permian Resources’s dividend payout ratio (DPR) is currently 21.82%.

Insider Buying and Selling at Permian Resources

In other news, Director Jeffrey Tepper sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total value of $1,067,300.00. Following the completion of the sale, the director now owns 158,665 shares in the company, valued at approximately $2,605,279.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Permian Resources

Several institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in Permian Resources during the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. bought a new stake in Permian Resources during the 1st quarter valued at about $26,000. Parallel Advisors LLC lifted its holdings in 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 buying an additional 1,178 shares in the last quarter. Innealta Capital LLC purchased a new position in Permian Resources during the 2nd quarter valued at about $30,000. Finally, Rise Advisors LLC purchased a new position in Permian Resources during the 1st quarter valued at about $32,000. Institutional investors own 91.84% of the company’s stock.

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.