Permian Resources (NYSE:PR) Posts Quarterly Earnings Results, Meets Estimates

Permian Resources (NYSE:PR) posted its quarterly earnings data on Tuesday. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36, Zacks reports. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%.

Permian Resources Stock Down 2.9 %

Shares of NYSE PR traded down $0.41 during midday trading on Tuesday, hitting $13.65. 10,246,425 shares of the company’s stock were exchanged, compared to its average volume of 7,516,616. The firm’s fifty day simple moving average is $14.68 and its 200-day simple moving average is $14.48. The company has a market cap of $10.97 billion, a PE ratio of 8.27, a P/E/G ratio of 4.05 and a beta of 4.28. Permian Resources has a twelve month low of $12.62 and a twelve month high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.40%. Permian Resources’s dividend payout ratio is currently 36.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PR. Truist Financial raised their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley began coverage on Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Finally, Piper Sandler increased their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Insider Activity at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.80% of the stock is currently owned by corporate insiders.

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.