Scotiabank Expects Increased Earnings for Permian Resources

Permian Resources Corporation (NYSE:PR) – Investment analysts at Scotiabank raised their FY2026 earnings per share (EPS) estimates for shares of Permian Resources in a research report issued on Thursday, May 14th. Scotiabank analyst B. Zhang now anticipates that the company will earn $2.00 per share for the year, up from their previous forecast of $1.95. Scotiabank has a “Sector Outperform” rating and a $25.00 price target on the stock. The consensus estimate for Permian Resources’ current full-year earnings is $1.97 per share.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year.

Several other research firms also recently weighed in on PR. Susquehanna dropped their price target on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 price target on shares of Permian Resources in a research note on Thursday, February 26th. Truist Financial boosted their price target on Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Roth Mkm reiterated a “neutral” rating and set a $22.00 price target (up from $20.00) on shares of Permian Resources in a research note on Wednesday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Permian Resources in a research note on Friday, March 27th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.38.

Permian Resources Stock Down 0.1%

Permian Resources stock opened at $20.22 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50-day simple moving average is $20.30 and its two-hundred day simple moving average is $16.76. The company has a market cap of $16.91 billion, a PE ratio of 23.52, a PEG ratio of 1.11 and a beta of 0.52. Permian Resources has a fifty-two week low of $11.92 and a fifty-two week high of $22.67.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Insider Activity

In other Permian Resources news, EVP Guy M. Oliphint sold 4,999 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.28, for a total transaction of $91,381.72. Following the transaction, the executive vice president owned 605,272 shares in the company, valued at approximately $11,064,372.16. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James H. Walter sold 673,425 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $12,377,551.50. Following the transaction, the chief executive officer owned 9,389,405 shares in the company, valued at $172,577,263.90. This represents a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,130,066 shares of company stock valued at $58,837,655 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Permian Resources

Hedge funds have recently bought and sold shares of the business. SJS Investment Consulting Inc. boosted its position in Permian Resources by 1,862.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after purchasing an additional 1,341 shares in the last quarter. SHP Wealth Management purchased a new position in Permian Resources during the fourth quarter worth approximately $27,000. Cedar Mountain Advisors LLC purchased a new position in Permian Resources during the first quarter worth approximately $48,000. Los Angeles Capital Management LLC purchased a new position in Permian Resources during the fourth quarter worth approximately $39,000. Finally, State of Wyoming boosted its position in Permian Resources by 126.8% during the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after purchasing an additional 1,640 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.