Permian Resources Corp [PR] Is Currently 2.97 below its 200 Period Moving Avg: What Does This Mean?

Permian Resources Corp [NYSE: PR] gained 2.97% or 0.51 points to close at $17.66 with a heavy trading volume of 11143130 shares. The company report on March 6, 2024 at 8:38 AM that Permian Resources Announces Full Redemption of 6.875% Senior Notes Due 2027.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that Permian Resources Operating, LLC (the “Issuer”), a subsidiary of Permian Resources, has given notice of its intention to redeem all of the Company’s outstanding $356,351,000 aggregate principal amount 6.875% Senior Notes due 2027 (the “Notes”) on April 5, 2024 (the “Redemption Date”). The redemption is being made in accordance with the terms and conditions of the Notes and the indenture governing the Notes (the “Indenture”). The redemption price per Note will be 100% of the principal amount of the Notes, plus accrued and unpaid interest up to, but excluding, the Redemption Date.

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The Company has instructed UMB Bank, National Association, the trustee under the Indenture, to distribute a Notice of Redemption to all currently registered holders of the Notes on March 6, 2024. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the Notes may be obtained from the Company’s investor relations contacts provided below.

The daily chart for PR points out that the company has recorded 27.54% gains over the past six months.

If we look at the average trading volume of 9.85M shares, PR reached to a volume of 11143130 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 $18.62 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 0.40, with the Price to Sales ratio for PR stock in the period of the last 12 months amounting to 3.06. The Price to Book ratio for the last quarter was 1.51, with the Price to Cash per share for the same quarter was set at 0.14. Price to Free Cash Flow for PR in the course of the last twelve months was 22.75 with Quick ratio for the last quarter at 0.52.

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 2.14. With this latest performance, PR shares gained by 14.50% in over the last four-week period, additionally plugging by 27.54% over the last 6 months – not to mention a rise of 81.62% 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 80.80, with the RSI for the last a single of trading hit 82.70, and the three-weeks RSI is set at 77.20 for Permian Resources Corp [PR]. The present Moving Average for the last 50 days of trading for this stock 14.97, while it was recorded at 17.28 for the last single week of trading, and 13.43 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 0.52 and a Current Ratio set at 0.52.

Permian Resources Corp [PR]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Permian Resources Corp posted 0.31/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -20.50%. 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%.