Permian Resources Corporation (NYSE:PR) finished Wednesday with a subtraction of -$0.05 to close at $13.38, a downside of -0.37 percent. An average of 13,919,840 shares of common stock have been traded in the last five days. There was a gain of $1.15 in the past week, and it reached a new high 31 times over the past 12 months. The last 20 days have seen an average of 8,496,165 shares traded, while the 50-day average volume stands at 7,546,456.
PR stock has increased by 18.15% in the last month. The company shares reached their 1-month lowest point of $10.93 on 07/27/23. With the stock rallying to its 52-week high on 08/22/23, shares of the company touched a low of $6.06 and a high of $13.85 in 52 weeks. It has reached a new high 23 times so far this year and achieved 43.67% or $3.98 in price. In spite of this, the price is down -3.36% from the 52-week high.
Insider Transactions
PR stock investors should be aware that Permian Resources Corporation (PR) stock had its last reported insider trading activity 29 days ago on Jul 26. In this transaction, the insider spent $4,494,759. EVP, Chief Operating Officer, Garrison Matthew R., disposed of 330,059 shares at a price of $11.23 on Jul 26. The insider now owns more than $3,705,902 worth of shares. Prior to that, 10% Owner NGP XI US Holdings, L.P. went on to Sale 17,304,930 shares at $10.70 each on Mar 10. An amount of $185,119,489 was transacted.
Valuation Metrics
Permian Resources Corporation (PR) has a trailing price-to-earnings (P/E) ratio of 9.08. The stock’s beta is 4.43. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.89, the price-to-book (PB) ratio at 1.27, and the price-to-cash flow ratio at 13.67.
Financial Health
The quick ratio of Permian Resources Corporation for the three months ended June 29 was 0.60, and the current ratio was 0.60, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.62 and a total debt to equity ratio of 0.62 for the quarter ending June 29. Permian Resources Corporation’s EBITDA margin for the year ending June 29 is 72.01%, while its operating margin for the same period stands at 38.70%. Its gross profit as reported stood at $1.71 billion compared to revenue of $2.13 billion.
Earnings Surprise
For the three-month period that ended June 29, Permian Resources Corporation had $2.06 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $73.4 million in the quarter, while revenues were shrunk -161.35%. The analyst consensus anticipated Permian Resources Corporation’s latest quarter earnings to come in at $0.32 per share, but it turned out to be $0.21, a -34.40% surprise. For the quarter, EBITDA amounted to $410.62 million. Shareholders own equity worth $565.96 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 23 August was 80.34%, suggesting the stock is Overbought, with historical volatility in this time frame at 22.66%.
As of today, PR’s price is $13.09 +9.40% or $1.15 from its 5-day moving average. PR is currently trading +19.57% higher than its 20-day SMA and +30.03% higher than its 100-day SMA. However, the stock’s current price level is +32.48% above the SMA50 and +29.65% above the SMA200.
The stochastic %K and %D were 85.14% and 90.04%, respectively, and the average true range (ATR) was 0.53. With the 14-day stochastic at 78.32% and the average true range at 0.49, the RSI (14) stands at 75.80%. The stock has reached 0.59 on the 9-day MACD Oscillator while the 14-day reading was at 0.80.
Analyst Ratings
Mizuho upgraded Permian Resources Corporation (NYSE: PR) to a a Buy 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 Buy. According to current brokerage recommendations, 0 brokerage firms 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 14 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 $13.00 and $19.00, with a median target of $15.00. Taking a look at these predictions, the average price target given by analysts for Permian Resources Corporation (PR) stock is $15.38.
