KeyCorp Increases Earnings Estimates for Permian Resources

Key Points

• KeyCorp raised its FY2026 EPS estimate for Permian Resources to $2.22 from $2.18 and kept a Strong-Buy rating. That estimate is above the current consensus of $2.00 per share.
• Permian Resources recently reported quarterly earnings of $0.39 per share, topping analyst expectations by a penny, though revenue of $1.39 billion came in slightly below estimates.
• Sentiment on the stock remains positive overall, with several other firms also lifting price targets and the consensus rating sitting at Moderate Buy with an average price target of $22.69.

Permian Resources Corporation (NYSE:PR - Free Report) - Research analysts at KeyCorp upped their FY2026 EPS estimates for shares of Permian Resources in a report released on Wednesday, June 3rd. KeyCorp analyst T. Rezvan now expects that the company will post earnings per share of $2.22 for the year, up from their prior forecast of $2.18. KeyCorp currently has a "Strong-Buy" rating on the stock. The consensus estimate for Permian Resources' current full-year earnings is $2.00 per share. KeyCorp also issued estimates for Permian Resources' Q4 2027 earnings at $0.62 EPS.

Permian Resources (NYSE:PR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The company's revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS.

Other research analysts also recently issued reports about the stock. UBS Group increased their target price on shares of Permian Resources from $19.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 target price on shares of Permian Resources in a research report on Thursday, February 26th. BMO Capital Markets raised shares of Permian Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 7th. The Goldman Sachs Group increased their target price on shares of Permian Resources from $17.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Finally, Truist Financial increased their target price on shares of Permian Resources from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Permian Resources presently has an average rating of "Moderate Buy" and a consensus price target of $22.69.

Permian Resources Trading Down 0.2%

NYSE PR opened at $20.15 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The firm's fifty day moving average price is $20.54 and its 200 day moving average price is $17.53. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 23.43 and a beta of 0.48. Permian Resources has a 12 month low of $11.92 and a 12 month high of $22.67.

Institutional Trading of Permian Resources

A number of large investors have recently bought and sold shares of PR. Bank of New York Mellon Corp boosted its stake in Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company's stock worth $352,906,000 after purchasing an additional 13,483,136 shares during the period. Boston Partners lifted its stake in shares of Permian Resources by 76.2% in the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company's stock worth $222,099,000 after acquiring an additional 7,503,654 shares during the period. Vanguard Group Inc. lifted its stake in shares of Permian Resources by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company's stock worth $914,733,000 after acquiring an additional 6,705,644 shares during the period. Millennium Management LLC lifted its stake in shares of Permian Resources by 210.6% in the 3rd quarter. Millennium Management LLC now owns 9,850,059 shares of the company's stock worth $126,081,000 after acquiring an additional 6,678,814 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Permian Resources in the 1st quarter worth $121,041,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In related news, Director Aron Marquez sold 7,750 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00. Following the completion of the sale, the director owned 72,218 shares in the company, valued at $1,416,917.16. This represents a 9.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Quinn sold 512,429 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $19.59, for a total transaction of $10,038,484.11. Following the sale, the director owned 6,914,410 shares of the company's stock, valued at approximately $135,453,291.90. This represents a 6.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,438,198 shares of company stock worth $27,865,280 in the last quarter. 5.00% of the stock is currently owned by company insiders.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. Permian Resources's dividend payout ratio is currently 74.42%.

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.

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