Permian Resources Corp [NYSE: PR] closed the trading session at $13.60. The company report on December 19, 2023 at 9:22 AM that Permian Resources Corporation Announces Pricing of Secondary Public Offering of Class A Common Stock.
Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the pricing of an underwritten public offering of an aggregate 39,414,415 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), by certain affiliates of NGP Energy Capital Management L.L.C., Riverstone Investment Group LLC and EnCap Investments L.P. (the “Selling Stockholders”), resulting in total gross proceeds of approximately $512.4 million. Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.
Concurrently with the closing of the offering, the Company has agreed to purchase (the “Concurrent OpCo Unit Purchase”) from certain of the Selling Stockholders an aggregate 2,252,252 common units representing limited liability company interests (“OpCo Units”) in Permian Resources Operating, LLC, a Delaware limited liability company and a subsidiary of Permian Resources (“OpCo”), at a price per OpCo Unit equal to the price per share at which the underwriter purchases shares of Class A common stock in the offering and to cancel a corresponding number of shares of the Company’s Class C Common Stock, par value $0.0001 per share, held by such Selling Stockholders. The offering of Class A common stock is not conditioned upon the completion of the Concurrent OpCo Unit Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon the completion of the offering.
The stocks have a year to date performance of 0.00 percent and weekly performance of 2.49 percent. The stock has been moved at 20.96 percent over the last six months. The stock has performed -2.23 percent around the most recent 30 days and changed -7.42 percent over the most recent 3-months.
If compared to the average trading volume of 9.24M shares, PR reached to a volume of 5534847 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 $16.84 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 1.45. 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.
BofA Securities have made an estimate for Permian Resources Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 05, 2024.
The Average True Range (ATR) for Permian Resources Corp is set at 0.38, with the Price to Sales ratio for PR stock in the period of the last 12 months amounting to 2.51. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for PR in the course of the last twelve months was 22.83 with Quick ratio for the last quarter at 0.74.
PR stock trade performance evaluation
Permian Resources Corp [PR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.49. With this latest performance, PR shares dropped by -2.23% in over the last four-week period, additionally plugging by 20.96% over the last 6 months – not to mention a rise of 25.47% 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 55.85, with the RSI for the last a single of trading hit 59.95, and the three-weeks RSI is set at 53.51 for Permian Resources Corp [PR]. The present Moving Average for the last 50 days of trading for this stock 13.25, while it was recorded at 13.49 for the last single week of trading, and 12.32 for the last 200 days.
Permian Resources Corp [PR]: An insightful look at the core fundamentals
Permian Resources Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 0.74.
Earnings per share (EPS) analysis for Permian Resources Corp [PR] stock
With the latest financial reports released by the company, Permian Resources Corp posted 0.26/share EPS, while the average EPS was predicted by analysts to be reported at 0.45/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -42.20%. 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 13.00%.
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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PR stock with ownership which is approximately 5.8325%.
