Permian Resources (PR) Set to Announce Quarterly Earnings on Tuesday

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

Permian Resources (NASDAQ:PR) last posted 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. 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 Up 1.3 %

Shares of Permian Resources stock opened at $16.93 on Friday. Permian Resources has a 52-week low of $8.94 and a 52-week high of $18.28. The company has a 50-day simple moving average of $16.90 and a two-hundred day simple moving average of $14.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $13.07 billion, a PE ratio of 14.59 and a beta of 4.32.

Permian Resources Announces Dividend

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

Insiders Place Their Bets

In related news, Director William J. Quinn sold 18,076,849 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $15.71, for a total value of $283,987,297.79. Following the transaction, the director now owns 71,056,620 shares in the company, valued at approximately $1,116,299,500.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William J. Quinn sold 18,076,849 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $15.71, for a total value of $283,987,297.79. Following the sale, the director now directly owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $141,390,000.00. Following the completion of the transaction, the insider now owns 25,477,527 shares of the company’s stock, valued at $400,251,949.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,916,943 shares of company stock valued at $516,796,999. 12.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial boosted their price target on Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Mizuho increased their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 15th. Susquehanna increased their price target on Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a report on Friday, April 12th. Finally, Benchmark restated a “buy” rating and set a $17.00 price target on shares of Permian Resources in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and an average price target of $19.31.

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.