Permian Resources Co. (NYSE:PR – Free Report) – Equities researchers at Capital One Financial lifted their Q4 2024 earnings per share estimates for shares of Permian Resources in a research report issued to clients and investors on Monday, January 27th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $0.33 per share for the quarter, up from their prior estimate of $0.31. The consensus estimate for Permian Resources’ current full-year earnings is $1.44 per share.
Permian Resources (NYSE:PR – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 60.3% on a year-over-year basis.
Get Our Latest Stock Analysis on Permian Resources
Permian Resources Price Performance
Permian Resources stock opened at $15.11 on Wednesday. Permian Resources has a 52 week low of $12.59 and a 52 week high of $18.28. The company’s 50 day moving average price is $14.96 and its two-hundred day moving average price is $14.59. The stock has a market cap of $12.14 billion, a P/E ratio of 9.16, a P/E/G ratio of 4.60 and a beta of 4.32. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.
Permian Resources Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.97%. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is currently 36.36%.
Insider Transactions at Permian Resources
In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Permian Resources by 16.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 629,844 shares of the company’s stock valued at $9,359,000 after purchasing an additional 90,686 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after buying an additional 700 shares in the last quarter. L. Roy Papp & Associates LLP raised its position in shares of Permian Resources by 55.5% during the 4th quarter. L. Roy Papp & Associates LLP now owns 56,540 shares of the company’s stock valued at $813,000 after buying an additional 20,185 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Permian Resources by 12.4% during the 4th quarter. Summit Trail Advisors LLC now owns 21,430 shares of the company’s stock worth $308,000 after acquiring an additional 2,368 shares during the last quarter. Finally, MADDEN SECURITIES Corp grew its position in Permian Resources by 1.5% in the fourth quarter. MADDEN SECURITIES Corp now owns 68,975 shares of the company’s stock worth $992,000 after acquiring an additional 1,000 shares in the last quarter. 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.
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