Permian Resources Corporation [NYSE: PR] loss -5.80% or -0.61 points to close at $9.90 with a heavy trading volume of 5226763 shares. The company report on November 8, 2022 that Permian Resources Announces Third Quarter 2022 Results.
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Third quarter 2022 information discussed within this release represents legacy Centennial results for the months of July and August and combined Centennial and Colgate results for the month of September, unless otherwise specified.
It opened the trading session at $10.05, the shares rose to $10.12 and dropped to $9.85, the range by which the price of stock traded the whole day. The daily chart for PR points out that the company has recorded 26.44% gains over the past six months. However, it is still -94.88% lower than its most recent low trading price.
If we look at the average trading volume of 6.63M shares, PR reached to a volume of 5226763 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Permian Resources Corporation [PR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PR shares is $11.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Permian Resources Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 26, 2022. The new note on the price target was released on September 15, 2022, representing the official price target for Permian Resources Corporation stock.
The Average True Range (ATR) for Permian Resources Corporation is set at 0.57, with the Price to Sales ratio for PR stock in the period of the last 12 months amounting to 3.34. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.08. Price to Free Cash Flow for PR in the course of the last twelve months was 5.46 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for PR stock
Permian Resources Corporation [PR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.16. With this latest performance, PR shares gained by 2.70% in over the last four-week period, additionally plugging by 26.44% over the last 6 months – not to mention a rise of 59.94% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PR stock in for the last two-week period is set at 47.30, with the RSI for the last a single of trading hit 41.18, and the three-weeks RSI is set at 50.79 for Permian Resources Corporation [PR]. The present Moving Average for the last 50 days of trading for this stock 9.19, while it was recorded at 10.36 for the last single week of trading, and 8.04 for the last 200 days.
Permian Resources Corporation [PR]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Permian Resources Corporation [PR] shares currently have an operating margin of +35.24 and a Gross Margin at +45.97. Permian Resources Corporation’s Net Margin is presently recorded at +13.42.
Return on Equity for this stock inclined to 5.16, with Return on Assets sitting at 3.41.
Permian Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
Permian Resources Corporation [PR]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Permian Resources Corporation go to 6.00%.
An analysis of insider ownership at Permian Resources Corporation [PR]
There are presently around $2,486 million, or 88.30% of PR stock, in the hands of institutional investors. The top three institutional holders of PR stocks are: RIVERSTONE HOLDINGS LLC with ownership of 68,858,550, which is approximately 0% of the company’s market cap and around 3.20% of the total institutional ownership; VANGUARD GROUP INC, holding 16,588,690 shares of the stock with an approximate value of $164.23 million in PR stocks shares; and BLACKROCK INC., currently with $149.23 million in PR stock with ownership of nearly -0.174% of the company’s market capitalization.
Positions in Permian Resources Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 124 institutional holders increased their position in Permian Resources Corporation [NYSE:PR] by around 40,725,859 shares. Additionally, 120 investors decreased positions by around 42,652,106 shares, while 38 investors held positions by with 167,723,388 shares. The mentioned changes placed institutional holdings at 251,101,353 shares, according to the latest SEC report filing. PR stock had 41 new institutional investments in for a total of 13,922,362 shares, while 51 institutional investors sold positions of 9,916,251 shares during the same period.