Permian Resources Corp [PR] stock prices are up 1.69% to $18.08 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The PR shares have gain 3.14% over the last week, with a monthly amount glided 13.99%, 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 April 09, 2024, when Raymond James initiated its Strong Buy rating and assigned the stock a price target of $24. Previously, BofA Securities started tracking the stock with Neutral rating on January 05, 2024, and set its price target to $15. On November 15, 2023, Wells Fargo initiated with a Overweight rating and assigned a price target of $17 on the stock. Mizuho upgraded its rating to a Buy and increased its price target to $16 on August 16, 2023. The Benchmark Company initiated its recommendation with a Buy and recommended $14 as its price target on July 13, 2023. UBS started tracking with a Neutral rating for this stock on April 19, 2023, and assigned it a price target of $13. In a note dated March 01, 2023, TD Cowen upgraded an Outperform rating on this stock but restated the target price of $15.
The stock price of Permian Resources Corp [PR] has been fluctuating between $8.80 and $18.07 over the past year. Currently, Wall Street analysts expect the stock to reach $13 within the next 12 months. Permian Resources Corp [NYSE: PR] shares were valued at $18.08 at the most recent close of the market. An investor can expect a potential drop of -28.1% based on the average PR price forecast.
Analyzing the PR fundamentals
The Permian Resources Corp [NYSE:PR] reported sales of 3.12B for trailing twelve months, representing a surge of 47.42%. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.61.
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 17.92 points at the first support level, and at 17.77 for the second support level. However, for the 1st resistance point, the stock is sitting at 18.24, and for the 2nd resistance point, it is at 18.40.
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’s worth pointing out that Permian Resources Corp [NYSE:PR]’s Current Ratio is 0.52. In addition, the Quick Ratio stands at 0.52 and the Cash Ratio stands at 0.06. Considering the valuation of this stock, the price to sales ratio is 3.13, the price to book ratio is 1.54 and price to earnings (TTM) ratio is 15.61.
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.
