Permian Resources (PR) to Release Earnings on Tuesday

Permian Resources (NASDAQ:PR) is scheduled to be issuing its quarterly earnings data 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 earnings results 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. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates 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 $16.93 on Monday. The stock’s 50-day moving average is $16.90 and its 200 day moving average is $14.77. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 14.59 and a beta of 4.32. Permian Resources has a 1-year low of $8.94 and a 1-year high of $18.28. 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 Dividend Announcement

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

Insider Activity at Permian Resources

In related news, CEO William M. Hickey III sold 4,000,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $62,840,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Permian Resources news, CAO Brent P. Jensen sold 1,853 shares of the firm’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 completion of the transaction, the chief accounting officer now 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 is accessible through this link. Also, CEO William M. Hickey III sold 4,000,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $62,840,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,916,943 shares of company stock worth $516,796,999 over the last quarter. Corporate insiders own 12.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James began coverage on shares of Permian Resources in a research note on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 price objective for the company. Citigroup lifted their price objective on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Susquehanna increased their target price on Permian Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Mizuho lifted their price target on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company increased their price objective on Permian Resources from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.