The stock of Permian Resources Corporation (NYSE:PR) increased by $0.22 on Monday to finish at $13.63, up 1.64 percent. The last five days have seen an average of 8,787,780 shares of common stock traded. 23 times new highs were reached in the current year, with a gain of $4.23. The average number of shares traded over the last 20 days was 8,472,155, while the average volume over the last 50 days totaled 7,542,124.
PR stock appreciated 20.57% since last month. On 08/03/23, the company’s shares reached a one-month low of $11.17. The stock touched a high of $13.85 on 08/22/23, after rallying from a low of $6.06 in 52 weeks. The price of PR stock has risen by 46.36% or $4.23 this year, reaching a new high 23 times. Still, the stock price is down -1.55% 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 34 days ago on Jul 26. On Jul 26, SVP, Chief Accounting Officer Jensen Brent P sold 400,317 shares at $11.23 each. This transaction resulted in the insider making $4,494,759. On Jul 26, Garrison Matthew R. sold 330,059 shares at a price of US$11.23. After the transaction, the insider now owns 1,488,451 shares. 10% Owner NGP XI US Holdings, L.P. had earlier sold 17,304,930 shares on Mar 10 for $10.70 a share. The transaction was completed for $185,119,489.
Valuation Metrics
Permian Resources Corporation (PR) has a trailing price-to-earnings (P/E) ratio of 9.25. Beta for the stock is 4.44. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.98, the price-to-book (PB) ratio of 1.30, and the price-to-cash flow ratio of 14.08.
Financial Health
For the three months ended June 29, Permian Resources Corporation’s quick ratio was 0.60, while its current ratio was 0.60, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.62, and the total debt to equity ratio is 0.62. As far as profitability goes, gross margin for the trailing twelve months is 81.80% percent. Permian Resources Corporation’s EBITDA margin for the year ended June 29 was 72.01%, whereas its operating margin stood at 38.70% for the same period. Based on annual data, it had gross profit of $1.71 billion and revenue of $2.13 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PR’s return on assets (ROA) during the last 12 months has been 5.60%. There was a 17.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 15.70%.
Earnings Surprise
According to Permian Resources Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $623.4 million, while revenues rose by 24.18% to $616.27 million. It was predicted that Permian Resources Corporation’s quarterly earnings would be $0.21, but it ended up being $0.32, beating the consensus by -34.40%. EBITDA was $410.62 million for the quarter. At the end of Permian Resources Corporation’s most recent quarter ended June 29, its liabilities totaled 3.0 billion, while its total debt was $2.14 billion. Equity owned by shareholders amounts to $565.96 million.
Technical Picture
Here’s a quick look at Permian Resources Corporation’s (PR) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 78.38%, suggesting the stock is Overbought, with a 17.89% historical volatility rate.
The stochastic %K and %D were 78.47% and 77.00% respectively, while the average true range (ATR) was 0.46. Based on the 14-day stochastic reading of 87.71%, the RSI (14) reading is 75.16%. On the 9-day MACD Oscillator, the stock is at 0.31, and the 14-day reading is at 0.60.
Analyst Ratings
In its most recent analyst report, Mizuho raised its rating on Permian Resources Corporation (NYSE: PR) to a Buy. Prior to this, analysts firm rated the stock as a Neutral.
