Permian Resources Announces Significant Increase to its Base Dividend
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Roth/MKM on Permian Resources Corp (PR): 'We Expect PR To Have A Slight Positive Reaction vs. Peers Today'
September 3, 2024 7:36 AM EDTRoth/MKM analyst Leo Mariani reiterated a Buy rating and $20.00 price target on Permian Resources Corp (NYSE: PR).
The analyst comments "We rate Permian Resource a Buy due to its solid returns of capital including dividends and buybacks, reasonable production growth, and slightly discounted valuation... More
Permian Resources (PR) Raises Dividend to $0.15, Announces $1B Share Buyback
September 3, 2024 6:49 AM EDTPermian Resources (NYSE: PR) today announced an update to its return of capital strategy, which increases its quarterly base dividend from $0.06 per share to $0.15 per share ($0.60 per share annually). This represents a 150% increase to the Companys prior base dividend and provides a leading base dividend yield amongst U.S. independent E&Ps.
As part of its updated shareholder return policy, the Board of Directors has also authorized a new share repurchase program of $1 billion, replacing the existing $500 million program. The Companys approach... More
