In yesterday’s Wall Street session, Permian Resources Corporation (NYSE:PR) shares traded at $14.43, up 1.76% from the previous session.
As of this writing, 17 analysts cover Permian Resources Corporation (NYSE:PR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $13.00, we find $16.00. Given the previous closing price of $14.18, this indicates a potential upside of 12.83 percent. PR stock price is now 22.83% away from the 50-day moving average and 38.34% away from the 200-day moving average. The market capitalization of the company currently stands at $8.03B.
There are 3 analysts who have given it a hold rating, whereas 14 have given it a buy rating. Brokers who have rated the stock have averaged $16.19 as their price target over the next twelve months.
With the price target enhanced from $13 to $16, Mizuho Upgraded its rating from Neutral to Buy for Permian Resources Corporation (NYSE: PR).
In other news, Jensen Brent P, SVP, Chief Accounting Officer sold 400,317 shares of the company’s stock on Jul 26. The stock was sold for $4,494,759 at an average price of $11.23. Upon completion of the transaction, the SVP, Chief Accounting Officer now directly owns 1,445,931 shares in the company, valued at $20.86 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 26, EVP, Chief Operating Officer Garrison Matthew R. sold 330,059 shares of the business’s stock. A total of $3,705,902 was realized by selling the stock at an average price of $11.23. This leaves the insider owning 1,488,451 shares of the company worth $21.48 million. Insiders disposed of 81,361,077 shares of company stock worth roughly $1.17 billion 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 WOODLINE PARTNERS LP during the first quarter worth $92,115,000. VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. invested $24,926,000 in shares of PR during the first quarter. In the first quarter, NINEPOINT PARTNERS LP acquired a new stake in Permian Resources Corporation valued at approximately $19,481,000. MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. acquired a new stake in PR for approximately $13,803,000. ALYESKA INVESTMENT GROUP, L.P. purchased a new stake in PR valued at around $9,463,000 in the second quarter. In total, there are 348 active investors with 88.40% ownership of the company’s stock.
During the past 12 months, Permian Resources Corporation has had a low of $6.06 and a high of $14.21. As of last week, the company has a debt-to-equity ratio of 0.62, a current ratio of 0.60, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $6.75B, which is based on a 9.79 price-to-earnings ratio, a 1.63 price-to-earnings-growth ratio, and a beta of 4.48. The fifty day moving average price for PR is $11.87 and a two-hundred day moving average price translates $10.52 for the stock.
The latest earnings results from Permian Resources Corporation (NYSE: PR) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.21, missing analysts’ expectations of $0.32 by -0.11. This compares to $0.60 EPS in the same period last year. The net profit margin was 18.90% and return on equity was 15.70% for PR. The company reported revenue of $623.4 million for the quarter, compared to $472.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.89 percent. For the current quarter, analysts expect PR to generate $721.82M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/23/2023. Investors who held shares on 08/15/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 1.39% percent yield. There was an ex-dividend date of 08/14/2023 for this dividend. In terms of dividend payout ratio, PR is presently at 12.10%.
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 in Reeves County, West Texas and Lea County, New Mexico. 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.
