Can Permian Resources Corp (PR) stock recover despite sales dropping?

In yesterday’s Wall Street session, Permian Resources Corp (NYSE:PR) shares traded at $14.84, down -0.47% from the previous session.

18 analysts cover Permian Resources Corp (NYSE:PR), according to research data. 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 $14.00, we find $17.00. Given the previous closing price of $14.91, this indicates a potential upside of 14.02 percent. PR stock price is now 5.36% away from the 50-day moving average and 29.51% away from the 200-day moving average. The market capitalization of the company currently stands at $5.19B.

The stock has received a hold rating from 3 analysts and a buy rating from 14. Brokers who have rated the stock have averaged $17.47 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 Corp (NYSE: PR).

In other news, NGP XI US Holdings, L.P., 10% Owner sold 24,667,500 shares of the company’s stock on Sep 22. The stock was sold for $313,057,709 at an average price of $12.69. Upon completion of the transaction, the 10% Owner now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 14, SVP, Chief Accounting Officer Jensen Brent P sold 8,082 shares of the business’s stock. A total of $115,573 was realized by selling the stock at an average price of $14.30. This leaves the insider owning 1,266,032 shares of the company worth $18.79 million. Insiders disposed of 61,250,634 shares of company stock worth roughly $908.96 million over the past 1 year. A total of 24.07% of the company’s stock is owned by insiders.

On Friday morning Permian Resources Corp (NYSE: PR) stock kicked off with the opening price of $14.86. During the past 12 months, Permian Resources Corp has had a low of $8.35 and a high of $15.49. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 0.59, and a quick ratio of 0.59. According to the stock market information, the enterprise value for the company is $7.30B, which is based on a 10.07 price-to-earnings ratio, a 1.68 price-to-earnings-growth ratio, and a beta of 4.48. The fifty day moving average price for PR is $14.12 and a two-hundred day moving average price translates $11.53 for the stock.

The latest earnings results from Permian Resources Corp (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 18.93% and return on equity was 15.38% 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 $734.2M in revenue.

Permian Resources Corp(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.

Related Posts