Permian Resources Corporation (NYSE:PR) saw an upside of 1.57% to close Tuesday at $12.28 after adding $0.19 on the day. The 5-day average trading volume is 8,871,480 shares of the company’s common stock. It has gained $12.37 in the past week and touched a new high 5 times within the past 5 days. An average of 7,268,605 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,907,296.
PR’s 1-month performance is 11.03% or $1.35 on its low of $10.59 reached on 07/17/23. The company’s shares have touched a 52-week low of $6.09 and high of $12.14, with the stock’s rally to the 52-week high happening on 08/08/23. YTD, PR has achieved 31.33% or $2.88 and has reached a new high 17 times. However, the current price is up 1.15% from the 52-week high price.
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Insider Transactions
PR stock investors last saw insider trading activity on Jul 26.Jensen Brent P (SVP, Chief Accounting Officer) most recently sold 400,317 shares at $11.23 per share on Jul 26. This transaction cost the insider $4,494,759. EVP, Chief Operating Officer, Garrison Matthew R., sold 330,059 shares at a price of $11.23 on Jul 26. Then, on Mar 10, 10% Owner NGP XI US Holdings, L.P. sold 17,304,930 shares at a price of $10.70 per share. This transaction amounted to $185,119,489.
Valuation Metrics
PR stock has a beta of 4.51. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.77 while the price-to-book (PB) in the most recent quarter is 1.18, with the price to cash flow ratio at 13.50.
Permian Resources Corporation’s quick ratio for the period ended June 29 was 0.60, with the current ratio over the same period at 0.60. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.62, while the total debt to equity was 0.62.. In terms of profitability, the gross margin trailing 12 months is 83.50%. The trailing 12-month EBITDA margin is 72.01% while for the period ending June 29, Permian Resources Corporation’s operating margin was 41.20%. The firm’s gross profit as reported stood at $1.71 billion against revenue of $2.13 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -161.35% to $73.4 million, while revenue of $102.12 million was -39.13% off the previous quarter. Analysts expected PR to announce $0.32 per share in earnings in its latest quarter, but it posted $0.21, representing a -34.40% surprise. EBITDA for the quarter stood at more than $410.62 million. PR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 3.0 billion, with total debt at $2.14 billion. Shareholders hold equity totaling $565.96 million.
Let’s look briefly at Permian Resources Corporation (PR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 75.75% to suggest the stock is trending Overbought, with historical volatility in this time period at 28.03%.
The stock’s 5-day moving average is $11.90, reflecting a +5.32% or $0.62 change from its current price. PR is currently trading +7.53% above its 20-day SMA, +30.78% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +29.54% and SMA200 by+33.19%.
Stochastic %K and %D was 93.51% and 88.72% and the average true range (ATR) pointed at 0.44. The RSI (14) points at 69.91%, while the 14-day stochastic is at 93.75% with the period’s ATR at 0.43. The stock’s 9-day MACD Oscillator is pointing at 0.44 and 0.59 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Permian Resources Corporation (NYSE: PR), The Benchmark Company launched coverage with a Buy rating. Analysts offering their rating for PR stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate PR as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 13 have offered a “buy” rating.
What is PR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $11.00 and a high of $17.00, with their median price target at $14.00. Looking at these predictions, the average price target given by analysts is for Permian Resources Corporation (PR) stock is $14.00.
