In last trading session, Permian Resources Corporation (NYSE:PR) saw 46.96 million shares changing hands with its beta currently measuring 4.49. Company’s recent per share price level of $13.69 trading at -$0.12 or -0.87% at ring of the bell on the day assigns it a market valuation of $7.67B. That closing price of PR’s stock is at a discount of -11.76% from its 52-week high price of $15.30 and is indicating a premium of 55.73% from its 52-week low price of $6.06. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 12.38 million shares which gives us an average trading volume of 7.64 million if we extend that period to 3-months.
For Permian Resources Corporation (PR), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 17 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 14 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.37 in the current quarter.
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Permian Resources Corporation (NYSE:PR) trade information
Upright in the red during last session for losing -0.87%, in the last five days PR remained trading in the red while hitting it’s week-highest on Monday, 09/11/23 when the stock touched $13.69 price level, adding 5.46% to its value on the day. Permian Resources Corporation’s shares saw a change of 47.00% in year-to-date performance and have moved -4.33% in past 5-day. Permian Resources Corporation (NYSE:PR) showed a performance of 11.94% in past 30-days. Number of shares sold short was 40.01 million shares which calculate 5.92 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $16.31 to the stock, which implies a rise of 16.06% to its current value. Analysts have been projecting $13.00 as a low price target for the stock while placing it at a high target of $20.00. It follows that stock’s current price would drop -46.09% in reaching the projected high whereas dropping to the targeted low would mean a gain of 5.04% for stock’s current value.
Permian Resources Corporation (PR) estimates and forecasts
Statistics highlight that Permian Resources Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company added 42.60% of value to its shares in past 6 months, showing an annual growth rate of -3.36% while that of industry is -31.00. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -47.10% in the current quarter and calculating 53.80% increase in the next quarter. This year revenue growth is estimated to rise 30.00% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $720.54 million for the same. And 11 analysts are in estimates of company making revenue of $784.33 million in the next quarter that will end on Dec 2023. Company posted $515.88 million and $761.56 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 39.70% while estimating it to be 3.00% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 40.30% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 262.00% while estimates for its earnings growth in next 5 years are of 6.00%.
PR Dividends
Permian Resources Corporation is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Permian Resources Corporation (NYSE:PR)’s Major holders
Insiders are in possession of 5.62% of company’s total shares while institution are holding 94.90 percent of that, with stock having share float percentage of 100.55%. Investors also watch the number of corporate investors in a company very closely, which is 94.90% institutions for Permian Resources Corporation that are currently holding shares of the company. Riverstone Holdings Llc is the top institutional holder at PR for having 55.27 million shares of worth $605.72 million. And as of Jun 29, 2023, it was holding 17.20% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 24.32 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.57% of outstanding shares, having a total worth of $266.54 million.
On the other hand, College Retirement Equities Fund-Stock Account and SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 9.27 million shares of worth $101.62 million or 2.89% of the total outstanding shares. The later fund manager was in possession of 7.59 million shares on Jul 30, 2023, making its stake of worth around $88.77 million in the company or a holder of 2.36% of company’s stock.
- Tags: NYSE:PR, Permian Resources Corporation, PR, PR stock
