In the latest trading session, 1.3 million Permian Resources Corp (NYSE:PR) shares changed hands as the company’s beta touched 4.36. With the company’s most recent per share price at $17.28 changing hands around $0.15 or 0.90% at last look, the market valuation stands at $9.35B. PR’s current price is a discount, trading about -0.98% off its 52-week high of $17.45. The share price had its 52-week low at $8.80, which suggests the last value was 49.07% up since then. When we look at Permian Resources Corp’s average trading volume, we note the 10-day average is 10.84 million shares, with the 3-month average coming to 9.74 million.
Permian Resources Corp (NYSE:PR) trade information
Instantly PR is in green as seen in intraday trades today. With action 1.38%, the performance over the past five days has been green. The jump to weekly highs of 17.45 added 0.90% to the stock’s daily price. The company’s shares are showing year-to-date upside of 27.89%, with the 5-day performance at 1.38% in the green. However, in the 30-day time frame, Permian Resources Corp (NYSE:PR) is 14.36% up. Looking at the short shares, we see there were 42.94 million shares sold at short interest cover period of 4.67 days.
Permian Resources Corp (PR) estimates and forecasts
Data shows that the Permian Resources Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 29.93% over the past 6 months, a -21.05% in annual growth rate that is considerably lower than the industry average of -2.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Permian Resources Corp will rise 19.40%, while the growth in revenue is estimated to hit 76.20% for the next quarter. Year-over-year growth is forecast to reach 59.30% up from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $1.2 billion. 13 analysts are of the opinion that Permian Resources Corp’s revenue for the quarter ending Jun 2024 will be $1.21 billion. The company’s revenue for the corresponding quarters a year ago was $616.27 million and $661.85 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 94.20%. The estimates for the next quarter sales put growth at 83.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 10.57%. The 2024 estimates are for Permian Resources Corp earnings to increase by 27.70%, but the outlook for the next 5-year period is at 13.00% per year.
PR Dividends
Permian Resources Corp is expected to release its next quarterly earnings report between May 06 and May 10. The 1.16% annual yield figure for the share gives it an annual dividend of 0.20. It is important to note, however, that the 1.16% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Permian Resources Corp (NYSE:PR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 3.46% of Permian Resources Corp shares while 98.02% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 101.53%. There are 98.02% institutions holding the Permian Resources Corp stock share, with Riverstone Holdings Llc the top institutional holder. As of Jun 29, 2023, the company held 15.80% of the shares, roughly 55.27 million PR shares worth $605.72 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 6.95% or 24.32 million shares worth $266.54 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were College Retirement Equities Fund-Stock Account and iShares Core S&P Midcap ETF. With 9.27 million shares estimated at $101.62 million under it, the former controlled 2.65% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 2.48% of the shares, roughly 8.68 million shares worth around $121.22 million.
