Analysts Issue Research Notes On Permian Resources Corporation (PR)

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Permian Resources Corporation (NYSE:PR) finished Thursday with a subtraction of -$0.13 to close at $6.89, a downside of -1.85 percent. An average of 7,289,280 shares of common stock have been traded in the last five days. There was a fall of -$1.10 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 7,401,575 shares traded, while the 50-day average volume stands at 7,622,072.

PR stock has decreased by -10.98% in the last month. The company shares reached their 1-month lowest point of $6.83 on 09/22/22. With the stock rallying to its 52-week high on 06/08/22, shares of the company touched a low of $5.08 and a high of $9.70 in 52 weeks. It has reached a new high 19 times so far this year and achieved 15.22% or $0.91 in price. In spite of this, the price is down -28.97% from the 52-week high.


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Valuation Metrics

Permian Resources Corporation (PR) has a trailing price-to-earnings (P/E) ratio of 5.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.38, the price-to-book (PB) ratio at 0.66, and the price-to-cash flow ratio at 2.46.

Financial Health

The quick ratio of Permian Resources Corporation for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.27 and a total debt to equity ratio of 0.27 for the quarter ending June 29. Its gross profit as reported stood at $770.44 million compared to revenue of $1.03 billion.

Earnings Surprise

The analyst consensus anticipated Permian Resources Corporation’s latest quarter earnings to come in at $0.45 per share, but it turned out to be $0.6, a 33.30% surprise. For the quarter, EBITDA amounted to $366.54 million. Shareholders own equity worth $285.06 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Permian Resources Corporation (PR) price momentum. RSI 9-day as of the close on 22 September was 31.84%, suggesting the stock is Neutral, with historical volatility in this time frame at 46.96%.

As of today, PR’s price is $7.31 -13.77% or -$1.10 from its 5-day moving average. PR is currently trading -14.94% lower than its 20-day SMA and -10.98% lower than its 100-day SMA. However, the stock’s current price level is +24.59% above the SMA50 and +12.03% above the SMA200.

The stochastic %K and %D were 6.96% and 12.51%, respectively, and the average true range (ATR) was 0.45. With the 14-day stochastic at 3.24% and the average true range at 0.46, the RSI (14) stands at 39.47%. The stock has reached -0.56 on the 9-day MACD Oscillator while the 14-day reading was at -0.63.

Analyst Ratings

JP Morgan upgraded Permian Resources Corporation (NYSE: PR) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Permian Resources Corporation (PR) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell PR, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.

What is PR’s price target for the next 12 months?

Analysts predict a range of price targets between $6.50 and $13.00, with a median target of $11.00. Taking a look at these predictions, the average price target given by analysts for Permian Resources Corporation (PR) stock is $10.50.

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