Permian Resources (PR) to Release Earnings on Wednesday

Permian Resources (NYSE:PR) is set to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect Permian Resources to post earnings of $0.34 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. Permian Resources’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, analysts expect Permian Resources to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Permian Resources Stock Performance

Shares of PR opened at $13.55 on Wednesday. The stock has a 50 day moving average of $13.93 and a 200 day moving average of $15.24. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.84 and a beta of 4.32. Permian Resources has a 12 month low of $12.34 and a 12 month high of $18.28.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.77%. Permian Resources’s payout ratio is 19.20%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Mizuho decreased their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. The Goldman Sachs Group initiated coverage on Permian Resources in a research report on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, UBS Group cut their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus target price of $18.73.

Insider Buying and Selling

In other news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

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.