As of Wednesday close, Permian Resources Corporation’s (NYSE:PR) stock was up $0.07, moving up 0.58 percent to $12.23. The average number of shares traded per day over the past five days has been 5,413,680 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.06 fall in that time frame. In the last twenty days, the average volume was 6,471,345, while in the previous 50 days, it was 6,895,086.
Since last month, PR stock rose 11.43%. Shares of the company fell to $10.59 on 07/17/23, the lowest level in the past month. A 52-week high of $12.57 was reached on 08/16/23 after having rallying from a 52-week low of $6.06. Since the beginning of this year, PR’s stock price has risen by 31.32% or $2.83, and marked a new high 19 times. However, the stock has declined by -2.74% since its 52-week high.
PR stock investors should be aware that Permian Resources Corporation (PR) stock had its last reported insider trading activity 22 days ago on Jul 26. Jensen Brent P, the SVP, Chief Accounting Officer of the company, disposed of 400,317 shares for $11.23 on Jul 26. It resulted in a $4,494,759 divestment by the insider. Garrison Matthew R. sold 330,059 shares at an average price of $11.23 on Jul 26. The insider now owns 1,488,451 shares following the transaction. On Mar 10, 10% Owner NGP XI US Holdings, L.P. sold 17,304,930 shares at $10.70 apiece. The transaction was valued at $185,119,489.
Valuation Metrics
Right now, Permian Resources Corporation (PR) has a P/E ratio of about 8.30. The stock’s beta is 4.49. Besides these, the trailing price-to-sales (P/S) ratio of 2.65, the price-to-book (PB) ratio of 1.16, and the price-to-cash flow ratio of 12.54 may also be considered.
Financial Health
In the three months ended June 29, Permian Resources Corporation’s quick ratio stood at 0.60, while its current ratio was 0.60, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.62, and the total debt-to-equity ratio was 0.62. On the profitability front, the trailing twelve-month gross margin is 81.80% percent. In the year ended June 29, EBITDA margin amounted to 72.01%, whereas operating margins totaled 38.70%. Based on annual data, PR earned $1.71 billion in gross profit and brought in $2.13 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 17.50%. Return on equity (ROE) for the past 12 months was 15.70%.
In Permian Resources Corporation’s quarter-end financial report for June 29, it reported total debt of $2.06 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PR’s revenue rose 24.18% to $616.27 million during the quarter, while net income inched up to $623.4 million. While analysts expected Permian Resources Corporation to report $0.32 quarterly earnings, the actual figure was $0.21 per share, beating the consensus estimate by -34.40%. During the quarter, the company generated $410.62 million in EBITDA. The liabilities of Permian Resources Corporation were 3.0 billion at the end of its most recent quarter ended June 29, and its total debt was $2.14 billion. The value of shareholders’ equity is $565.96 million.
Technical Picture
This quick technical analysis looks at Permian Resources Corporation’s (PR) price momentum. With a historical volatility rate of 24.20%, the RSI 9-day stood at 62.96% on 16 August.
With respect to its five-day moving average, the current Permian Resources Corporation price is down by -0.49% percent or -$0.06. At present, PR shares trade +9.88% above its 20-day simple moving average and +29.01% percent above its 100-day simple moving average. However, the stock is currently trading approximately +25.18% above its SMA50 and +26.87% above its SMA200.
Stochastic coefficient K was 77.22% and Stochastic coefficient D was 80.54%, while ATR was 0.41. Given the Stochastic reading of 74.13% for the 14-day period, the RSI (14) reading has been calculated as 63.24%. As of today, the MACD Oscillator reading stands at 0.03, while the 14-day reading stands at 0.26.
Analyst Ratings
Mizuho upgraded its rating on Permian Resources Corporation (NYSE: PR) to a Buy in a note to investors on August 16, 2023. The analysts firm previously had a Neutral rating on the stock.Permian Resources Corporation (PR) has been rated Buy by analysts. According to 0 brokerage firms, PR is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Permian Resources Corporation stock as buy, with 14 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $11.00 – $17.00. Based on these forecasts, analysts predict Permian Resources Corporation (PR) will achieve an average price target of $14.38.
