Permian Resources (PR) to Release Earnings on Tuesday

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

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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 Stock Performance

Shares of NASDAQ PR opened at $17.54 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $16.75 and its two-hundred day moving average price is $14.73. Permian Resources has a 52-week low of $8.94 and a 52-week high of $18.28. The stock has a market capitalization of $13.54 billion, a P/E ratio of 15.12 and a beta of 4.35.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, March 12th. Permian Resources’s dividend payout ratio (DPR) is 17.24%.

Insider Activity

In related news, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the sale, the chief accounting officer now directly owns 1,047,610 shares in the company, valued at $15,337,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Brent P. Jensen sold 1,853 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the sale, the chief accounting officer now directly owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brent P. Jensen sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.18, for a total value of $759,000.00. Following the completion of the transaction, the chief accounting officer now owns 882,325 shares of the company’s stock, valued at approximately $13,393,693.50. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock worth $516,796,999 over the last 90 days. 12.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PR has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a report on Friday, April 12th. Truist Financial boosted 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. Susquehanna raised their price target on shares of Permian Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Stifel Nicolaus boosted their price objective on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and an average 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.