At the time of writing, Permian Resources Corp [PR] stock is trading at $17.29, up 0.82%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The PR shares have gain 4.47% over the last week, with a monthly amount glided 15.60%, and seem to be holding up well over a long-time horizon.
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On 6, March 2024, Permian Resources Announces Full Redemption of 6.875% Senior Notes Due 2027. In a post published today on Yahoo Finance, Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that Permian Resources Operating, LLC (the “Issuer”), a subsidiary of Permian Resources, has given notice of its intention to redeem all of the Company’s outstanding $356,351,000 aggregate principal amount 6.875% Senior Notes due 2027 (the “Notes”) on April 5, 2024 (the “Redemption Date”). The redemption is being made in accordance with the terms and conditions of the Notes and the indenture governing the Notes (the “Indenture”). The redemption price per Note will be 100% of the principal amount of the Notes, plus accrued and unpaid interest up to, but excluding, the Redemption Date.
From an analyst’s perspective:
Permian Resources Corp [NYSE: PR] stock has seen the most recent analyst activity on January 05, 2024, when BofA Securities initiated its Neutral rating and assigned the stock a price target of $15. Previously, Wells Fargo started tracking the stock with Overweight rating on November 15, 2023, and set its price target to $17. On August 16, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $16 on the stock. The Benchmark Company started tracking the stock assigning a Buy rating and suggested a price target of $14 on July 13, 2023. UBS initiated its recommendation with a Neutral and recommended $13 as its price target on April 19, 2023. TD Cowen upgraded its rating to Outperform for this stock on March 01, 2023, but kept the price target unchanged to $15. In a note dated March 01, 2023, Cowen upgraded an Outperform rating on this stock but restated the target price of $15.
For the past year, the stock price of Permian Resources Corp fluctuated between $8.80 and $17.43. Currently, Wall Street analysts expect the stock to reach $11.43 within the next 12 months. Permian Resources Corp [NYSE: PR] shares were valued at $17.29 at the most recent close of the market. An investor can expect a potential drop of -33.89% based on the average PR price forecast.
Analyzing the PR fundamentals
According to Permian Resources Corp [NYSE:PR], the company’s sales were 3.12B for trailing twelve months, which represents an 47.42% jump. Gross Profit Margin for this corporation currently stands at 0.5% with Operating Profit Margin at 0.38%, Pretax Profit Margin comes in at 0.33%, and Net Profit Margin reading is 0.19%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.14 and Total Capital is 0.09. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.61.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 17.19 points at the first support level, and at 17.09 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.42, and for the 2nd resistance point, it is at 17.55.
Permian Resources Corp [PR] reported earnings per share of $0.51 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.32/share, meaning a difference of $0.19 and a surprise factor of 59.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.13 per share as compared to estimates of $0.38 per share, a difference of -$0.25 representing a surprise of -65.80%.
Ratios To Look Out For
It is important to note that Permian Resources Corp [NYSE:PR] has a current ratio of 0.52. As well, the Quick Ratio is 0.52, while the Cash Ratio is 0.06. Considering the valuation of this stock, the price to sales ratio is 3.00, the price to book ratio is 1.48 and price to earnings (TTM) ratio is 14.93.
Transactions by insiders
Recent insider trading involved EnCap Partners GP, LLC, 10% Owner, that happened on Mar 06 ’24 when 9.0 million shares were sold. Co-Chief Executive Officer, Hickey William M III completed a deal on Mar 06 ’24 to sell 4.0 million shares. Meanwhile, Co-Chief Executive Officer Walter James H sold 4.0 million shares on Mar 06 ’24.
