Permian Resources (NYSE:PR) Issues 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 return on equity of 11.15% and a net margin of 21.20%.

Permian Resources Stock Down 2.9 %

Shares of Permian Resources stock traded down $0.41 during trading on Tuesday, reaching $13.65. The company had a trading volume of 10,246,352 shares, compared to its average volume of 7,516,562. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources has a fifty-two week low of $12.62 and a fifty-two week high of $18.28. The firm’s fifty day moving average is $14.68 and its 200-day moving average is $14.48. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

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

Analyst Ratings Changes

PR has been the subject of a number of research analyst reports. Morgan Stanley started coverage on Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Truist Financial raised their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler upped their target price on 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.13.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.