Permian Resources (PR) Scheduled to Post Earnings on Tuesday

Permian Resources (NASDAQ:PR) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Permian Resources (NASDAQ:PR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. On average, analysts expect Permian Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Permian Resources Price Performance

PR opened at $16.93 on Friday. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 14.59 and a beta of 4.32. The stock has a fifty day moving average price of $16.90 and a 200 day moving average price of $14.78. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42. Permian Resources has a 1 year low of $8.94 and a 1 year high of $18.28.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. Permian Resources’s payout ratio is currently 17.24%.

Insider Activity at Permian Resources

In related news, CAO Brent P. Jensen sold 203,687 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the transaction, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at $15,457,119.75. The sale was disclosed in a filing with the SEC, which is available through this link. In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total value of $2,963,645.85. Following the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the transaction, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,916,943 shares of company stock valued at $516,796,999. Insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

PR has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Citigroup upped their price objective on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Truist Financial increased their target price on shares of Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company raised their price objective on Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

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.