Permian Resources (PR) to Release Quarterly Earnings on Tuesday

Permian Resources (NASDAQ:PR) will 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. Persons that wish to register for the company’s earnings conference call can do so using this link.

Permian Resources (NASDAQ:PR) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. 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

Permian Resources stock opened at $16.93 on Monday. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 14.59 and a beta of 4.32. 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 12 month low of $8.94 and a 12 month high of $18.28. The stock’s 50 day moving average is $16.90 and its 200-day moving average is $14.77.

Permian Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

PR has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Benchmark reiterated a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research report on Friday, April 12th. Susquehanna lifted their price objective on Permian Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Finally, Raymond James started coverage on Permian Resources in a research report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 target price for the company. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Insider Activity at Permian Resources

In related news, CAO Brent P. Jensen sold 1,853 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at approximately $15,337,010.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Brent P. Jensen sold 84,554 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $14.96, for a total transaction of $1,264,927.84. Following the sale, the chief accounting officer now directly owns 932,325 shares in the company, valued at $13,947,582. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at approximately $15,337,010.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,916,943 shares of company stock valued at $516,796,999. 12.80% of the stock is owned by insiders.

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.