Permian Resources Corp [NYSE: PR] gained 1.00% or 0.15 points to close at $15.20 with a heavy trading volume of 11666721 shares. The company report on January 31, 2024 at 4:05 PM that Permian Resources Announces Fourth Quarter and Full Year 2023 Earnings Conference Call.
Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that it will report fourth quarter and full year 2023 financial and operating results after the market closes for trading on Tuesday, February 27, 2024. Management will host an earnings conference call on Wednesday, February 28, 2024 at 8:00 a.m. Central (9:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (888) 259-6580 (Conference ID: 41855841) at least 15 minutes prior to the start of the call or via the internet at www.permianres.com. A replay of the call will be available on the Company’s website or by phone at (877) 674-7070 (Passcode: 855841) for a 14-day period following the call.
The daily chart for PR points out that the company has recorded 15.78% gains over the past six months.
If we look at the average trading volume of 8.77M shares, PR reached to a volume of 11666721 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 Corp [PR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PR shares is $16.89 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. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on November 15, 2023, representing the official price target for Permian Resources Corp stock. Previously, the target price had yet another raise from $13 to $16, while Mizuho kept a Buy rating on PR stock.
The Average True Range (ATR) for Permian Resources Corp is set at 0.43, with the Price to Sales ratio for PR stock in the period of the last 12 months amounting to 2.81. The Price to Book ratio for the last quarter was 1.46, 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 25.52 with Quick ratio for the last quarter at 0.74.
Trading performance analysis for PR stock
Permian Resources Corp [PR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.47. With this latest performance, PR shares gained by 11.11% in over the last four-week period, additionally plugging by 15.78% over the last 6 months – not to mention a rise of 45.94% 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 72.92, with the RSI for the last a single of trading hit 79.66, and the three-weeks RSI is set at 67.76 for Permian Resources Corp [PR]. The present Moving Average for the last 50 days of trading for this stock 13.61, while it was recorded at 14.89 for the last single week of trading, and 12.66 for the last 200 days.
Permian Resources Corp [PR]: A deeper dive into fundamental analysis
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.
Permian Resources Corp [PR]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at Permian Resources Corp [PR]
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%.
