In the last trading session, 6.87 million shares of the Permian Resources Corporation (NYSE:PR) were traded, and its beta was 4.55. Most recently the company’s share price was $9.83, and it changed around -$0.24 or -2.38% from the last close, which brings the market valuation of the company to $5.32B. PR currently trades at a discount to its 52-week high of $11.99, offering almost -21.97% off that amount. The share price’s 52-week low was $5.05, which indicates that the current value has risen by an impressive 48.63% since then. We note from Permian Resources Corporation’s average daily trading volume that its 10-day average is 6.88 million shares, with the 3-month average coming to 7.60 million.
Permian Resources Corporation (NYSE:PR) trade information
Instantly PR has showed a red trend with a performance of -2.38% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 10.25 on Tuesday, 05/23/23 increased the stock’s daily price by 4.1%. The company’s shares are currently up 5.13% year-to-date, but still up 8.38% over the last five days. On the other hand, Permian Resources Corporation (NYSE:PR) is -6.86% up in the 30-day period. We can see from the shorts that 32.31 million shares have been sold at a short interest cover period of 5.9 day(s).
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Permian Resources Corporation (PR) estimates and forecasts
Permian Resources Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -8.33 percent over the past six months and at a 26.17% annual growth rate that is well above the industry average of -24.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -31.70% in revenue this quarter, and will report a decrease of -34.30% in the next quarter. The year-over-year growth rate is expected to be 37.50%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $713.72 million in revenue for the current quarter. 9 analysts expect Permian Resources Corporation to make $779.29 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $472.65 million and $515.88 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 51.00%. Forecasts for the next quarter put sales growth at 51.10%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 40.30%. Permian Resources Corporation earnings are expected to increase by 262.00% in 2023, but the outlook is positive 6.00% per year for the next five years.
Permian Resources Corporation’s next quarterly earnings report is expected to be released around August 01 and August 07. The annual dividend yield of the stock is 2.03 percent and its annual dividend per share was 0.20. It is important to note, however, that the 2.03% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Permian Resources Corporation (NYSE:PR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.58% of Permian Resources Corporation shares, and 87.11% of them are in the hands of institutional investors. The stock currently has a share float of 92.26%. Permian Resources Corporation stock is held by 328 institutions, with Riverstone Holdings Llc being the largest institutional investor. By Mar 30, 2023, it held 17.58% of the shares, which is about 55.27 million shares worth $580.3 million.
Vanguard Group, Inc. (The), with 6.84% or 21.5 million shares worth $225.73 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 8.84 million shares worth $95.54 million, making up 2.82% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 5.26 million shares worth around $49.47 million, which represents about 1.68% of the total shares outstanding.