Permian Resources (PR) to Release Quarterly Earnings on Tuesday

Permian Resources (NASDAQ:PR - Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect Permian Resources to post earnings of $0.37 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Permian Resources (NASDAQ:PR - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. 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 Price Performance

Permian Resources stock traded down $0.79 during mid-day trading on Tuesday, hitting $16.76. 6,960,237 shares of the company were exchanged, compared to its average volume of 9,228,923. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $12.94 billion, a P/E ratio of 14.45 and a beta of 4.35. Permian Resources has a 12-month low of $8.94 and a 12-month high of $18.28. The business's 50 day simple moving average is $16.80 and its two-hundred day simple moving average is $14.74.

Permian Resources Dividend Announcement

The company 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. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. Permian Resources's dividend payout ratio is currently 17.24%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PR shares. Bank of America assumed coverage on shares of Permian Resources in a research note on Friday, January 5th. They set a "neutral" rating and a $15.00 price objective on the stock. Piper Sandler lifted their price objective on Permian Resources from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $17.00 target price on shares of Permian Resources in a research report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Permian Resources from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, April 12th. Finally, Wells Fargo & Company raised their target price on shares of Permian Resources from $18.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.31.

Insiders Place Their Bets

In other Permian Resources news, CEO William M. Hickey III sold 4,000,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $62,840,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William M. Hickey III sold 4,000,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $62,840,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert John Anderson sold 1,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $15,710,000.00. Following the sale, the director now owns 476,306 shares of the company's stock, valued at $7,482,767.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,916,943 shares of company stock worth $516,796,999. 12.80% of the stock is 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.