Permian Resources (PR) to Release Earnings on Wednesday

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

Permian Resources (NYSE:PR) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. Permian Resources’s revenue was up 99.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. 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 Down 1.6 %

Shares of Permian Resources stock opened at $13.41 on Monday. Permian Resources has a 1 year low of $12.34 and a 1 year high of $18.28. The company has a market cap of $10.76 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.82 and a beta of 4.34. 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 stock has a 50-day moving average price of $13.89 and a 200 day moving average price of $15.17.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.79%. Permian Resources’s dividend payout ratio is 19.20%.

Insider Activity at Permian Resources

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

Analyst Ratings Changes

A number of research analysts recently commented on PR shares. Truist Financial lowered their price objective on shares of Permian Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Citigroup cut their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company lowered their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. Finally, The Goldman Sachs Group began coverage on Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Permian Resources 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. 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.