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

Permian Resources (NYSE:PR) is anticipated to release its earnings data after the market closes on Tuesday, February 25th. Analysts expect Permian Resources to post earnings of $0.36 per share and revenue of $1.30 billion for the quarter. Persons that wish to register for the company’s conference call can do so using this link.

Permian Resources Stock Performance

Shares of Permian Resources stock opened at $14.17 on Tuesday. Permian Resources has a 12 month low of $12.62 and a 12 month high of $18.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a market cap of $11.38 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28. The business has a fifty day simple moving average of $14.72 and a 200-day simple moving average of $14.47.

Analysts Set New Price Targets

A number of brokerages have commented on PR. Piper Sandler raised their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial increased their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley initiated coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.80% of the company’s stock.

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.