Stocks of Permian Resources Corporation (NYSE:PR) traded higher last session on Wall Street, down -5.38% to $10.20.
According to the data, Permian Resources Corporation (NYSE:PR) has 13 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $11.00, we find $12.00. Given the previous closing price of $10.78, this indicates a potential upside of 11.32 percent. PR stock price is now 13.98% away from the 50-day moving average and 27.92% away from the 200-day moving average. The market capitalization of the company currently stands at $5.76B.
A total of 4 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $12.42 as their price target over the next twelve months.
On September 15, 2022, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $12.
In other news, Garrison Matthew R., EVP, Chief Operating Officer sold 40,000 shares of the company’s stock on Nov 04. The stock was sold for $440,320 at an average price of $11.01. Upon completion of the transaction, the EVP, Chief Operating Officer now directly owns 1,107,566 shares in the company, valued at $11.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 27, EVP, Chief Operating Officer Garrison Matthew R. sold 40,000 shares of the business’s stock. A total of $400,000 was realized by selling the stock at an average price of $10.00. This leaves the insider owning 1,147,566 shares of the company worth $11.71 million. Insiders disposed of 47,932,557 shares of company stock worth roughly $488.91 million over the past 1 year. A total of 3.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PR stock. A new stake in Permian Resources Corporation shares was purchased by CAPITAL WORLD INVESTORS during the first quarter worth $80,813,000. AVENTAIL CAPITAL GROUP, LP invested $12,240,000 in shares of PR during the first quarter. In the first quarter, CASTLEARK MANAGEMENT LLC acquired a new stake in Permian Resources Corporation valued at approximately $10,801,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in PR for approximately $8,497,000. SANDERS MORRIS HARRIS LLC purchased a new stake in PR valued at around $6,188,000 in the second quarter. In total, there are 321 active investors with 88.30% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $10.43 for Permian Resources Corporation (NYSE: PR). During the past 12 months, Permian Resources Corporation has had a low of $5.08 and a high of $11.43. As of last week, the company has a debt-to-equity ratio of 0.82, a current ratio of 0.70, and a quick ratio of 0.70. The fifty day moving average price for PR is $8.95 and a two-hundred day moving average price translates $7.97 for the stock.
The latest earnings results from Permian Resources Corporation (NYSE: PR) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $0.6, beating analysts’ expectations of $0.45 by 0.15. This compares to $0.12 EPS in the same period last year. The net profit margin was 35.20% and return on equity was 21.00% for PR. The company reported revenue of $549.78 million for the quarter, compared to $288.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 90.56 percent. For the current quarter, analysts expect PR to generate $529.79M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/29/2022. Investors who held shares on 11/21/2022 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 1.96% percent yield. There was an ex-dividend date of 11/18/2022 for this dividend. In terms of dividend payout ratio, PR is presently at 2.40%.
Permian Resources Corporation(PR) Company Profile
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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company’s properties consist of acreage blocks primarily in Reeves County, West Texas and Lea County, New Mexico. As of December 31, 2021, it leased or acquired approximately 73,675 net acres; and owned 991 net mineral acres in the Delaware Basin. The company was formerly known as Centennial Resource Development, Inc. and changed its name to Permian Resources Corporation in September 2022. Permian Resources Corporation was incorporated in 2015 and is headquartered in Midland, Texas.