Permian Resources Corp [NYSE: PR] closed the trading session at $14.19 on 11/06/23. The day’s price range saw the stock hit a low of $14.01, while the highest price level was $14.99. The company report on November 1, 2023 at 9:26 AM that Permian Resources Completes Acquisition of Earthstone Energy.
Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that it has completed its acquisition of Earthstone Energy, Inc. (“Earthstone”) (NYSE: ESTE). The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023.
James Walter, Co-CEO of Permian Resources, commented, “We are excited to complete this transaction and welcome the Earthstone team to Permian Resources. This acquisition reinforces Permian Resources’ position as a premier Delaware Basin independent E&P which is uniquely situated to drive profitable growth and development in the world-class Permian Basin.”.
The stocks have a year to date performance of 52.37 percent and weekly performance of -2.00 percent. The stock has been moved at 40.56 percent over the last six months. The stock has performed 7.34 percent around the most recent 30 days and changed 16.02 percent over the most recent 3-months.
If compared to the average trading volume of 9.91M shares, PR reached to a volume of 10947962 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Permian Resources Corp [PR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PR shares is $17.47 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 1.39. 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.
Mizuho have made an estimate for Permian Resources Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 16, 2023.
The Average True Range (ATR) for Permian Resources Corp is set at 0.55, with the Price to Sales ratio for PR stock in the period of the last 12 months amounting to 1.95. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for PR in the course of the last twelve months was 11.67 with Quick ratio for the last quarter at 0.59.
PR stock trade performance evaluation
Permian Resources Corp [PR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.00. With this latest performance, PR shares gained by 7.34% in over the last four-week period, additionally plugging by 40.56% over the last 6 months – not to mention a rise of 38.79% 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 46.72, with the RSI for the last a single of trading hit 41.30, and the three-weeks RSI is set at 50.00 for Permian Resources Corp [PR]. The present Moving Average for the last 50 days of trading for this stock 14.13, while it was recorded at 14.57 for the last single week of trading, and 11.55 for the last 200 days.
Permian Resources Corp [PR]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Permian Resources Corp [PR] shares currently have an operating margin of +51.15 and a Gross Margin at +58.64. Permian Resources Corp’s Net Margin is presently recorded at +24.17.
Return on Total Capital for PR is now 19.02, given the latest momentum, and Return on Invested Capital for the company is 11.83. Return on Equity for this stock inclined to 18.11, with Return on Assets sitting at 8.21. When it comes to the capital structure of this company, Permian Resources Corp [PR] has a Total Debt to Total Equity ratio set at 75.34. Additionally, PR Total Debt to Total Capital is recorded at 42.97, with Total Debt to Total Assets ending up at 26.05. Long-Term Debt to Equity for the company is recorded at 74.33, with the Long-Term Debt to Total Capital now at 42.39.
Reflecting on the efficiency of the workforce at the company, Permian Resources Corp [PR] managed to generate an average of $2,362,555 per employee. Receivables Turnover for the company is 12.04 with a Total Asset Turnover recorded at a value of 0.34.Permian Resources Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.59 and a Current Ratio set at 0.59.
Earnings per share (EPS) analysis for Permian Resources Corp [PR] stock
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 Corp go to 6.00%.
Permian Resources Corp [PR]: Institutional Ownership
The top three institutional holders of PR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in PR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in PR stock with ownership which is approximately 5.7994%.