Permian Resources (PR) Projected to Post Quarterly Earnings on Tuesday

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

Permian Resources Trading Down 4.1 %

NYSE:PR opened at $14.03 on Friday. The stock’s 50 day moving average price is $14.68 and its 200 day moving average price is $14.48. Permian Resources has a 52 week low of $12.62 and a 52 week high of $18.28. The company has a market capitalization of $11.27 billion, a P/E ratio of 8.50, a P/E/G ratio of 4.05 and a beta of 4.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Analyst Ratings Changes

PR has been the topic of several research analyst reports. Piper Sandler raised their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, Truist Financial raised their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two equities research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Insider Activity

In related news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated 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 in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.80% of the stock is currently owned by corporate insiders.

About Permian Resources

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.