Permian Resources Corporation (PR) to Issue Quarterly Dividend of $0.16 on September 30th

Permian Resources Corporation (NYSE:PR) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Wednesday, September 16th will be paid a dividend of 0.16 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, September 16th.

Permian Resources has a payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Permian Resources to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 28.6%.

Permian Resources Stock Performance

Permian Resources stock opened at $23.77 on Monday. The business has a 50 day moving average of $21.54 and a 200-day moving average of $20.42. The company has a market capitalization of $19.91 billion, a P/E ratio of 15.75 and a beta of 0.49. Permian Resources has a 1 year low of $11.92 and a 1 year high of $24.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.62.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.66 billion. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. On average, equities research analysts predict that Permian Resources will post 2.27 earnings per share for the current year.

Permian Resources Company Profile

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development and production of hydrocarbon resources in the Permian Basin. Its operations are concentrated in the Delaware and Midland basins of West Texas and southeastern New Mexico, where it develops primarily unconventional oil and natural gas properties.

The company’s production includes crude oil, natural gas and natural gas liquids. Permian Resources operates a portfolio of acreage and drilling locations and uses horizontal drilling and hydraulic fracturing technologies to develop its resources.