Permian Resources Corp (NYSE:PR) saw an upside of 3.27% to close Monday at $13.57 after adding $0.43 on the day. The 5-day average trading volume is 14,622,420 shares of the company’s common stock. It has gained $13.79 in the past week and touched a new high 1 time within the past 5 days. An average of 11,556,945 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,314,338.
PR’s 1-month performance is 2.80% or $0.16 on its low of $13.05 reached on 09/22/23. The company’s shares have touched a 52-week low of $6.06 and high of $15.30, with the stock’s rally to the 52-week high happening on 09/05/23. YTD, PR has achieved 45.71% or $4.17 and has reached a new high 28 times. However, the current price is down -11.31% from the 52-week high price.
Insider Transactions
PR stock investors last saw insider trading activity on Sep 22.NGP XI US Holdings, L.P. (10% Owner) most recently sold 24,667,500 shares at $12.69 per share on Sep 22. This transaction cost the insider $313,057,709. SVP, Chief Accounting Officer, Jensen Brent P, sold 8,082 shares at a price of $14.30 on Sep 14. Then, on Sep 05, SVP, Chief Accounting Officer Jensen Brent P sold 171,817 shares at a price of $14.83 per share. This transaction amounted to $2,548,080.
Valuation Metrics
PR stock has a beta of 4.46. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.71 while the price-to-book (PB) in the most recent quarter is 1.33, with the price to cash flow ratio at 10.27.
Permian Resources Corp’s quick ratio for the period ended June 29 was 0.59, with the current ratio over the same period at 0.59. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.63, while the total debt to equity was 0.64. In terms of profitability, the gross margin trailing 12 months is 50.41%. The trailing 12-month EBITDA margin is 72.01% while for the period ending June 29, Permian Resources Corp’s operating margin was 42.29%. 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 Corp (PR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 49.85% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.52%.
The stock’s 5-day moving average is $13.32, reflecting a +0.15% or $0.02 change from its current price. PR is currently trading +1.19% above its 20-day SMA, +37.35% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +26.35% and SMA200 by+50.95%.
Stochastic %K and %D was 14.22% and 7.34% and the average true range (ATR) pointed at 0.48. The RSI (14) points at 52.82%, while the 14-day stochastic is at 32.81% with the period’s ATR at 0.47. The stock’s 9-day MACD Oscillator is pointing at -0.19 and -0.45 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Permian Resources Corp (NYSE: PR), Mizuho upgraded it to a Buy rating. They previously had a Neutral rating on the stock. 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 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 14 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 $14.00 and a high of $20.00, with their median price target at $17.00. Looking at these predictions, the average price target given by analysts is for Permian Resources Corp (PR) stock is $16.76.
