Permian Resources Corporation (PR) looking to reclaim success with recent performance

Permian Resources Corporation (NYSE: PR) stock fell -2.24% on Tuesday to $10.47 against a previous-day closing price of $10.71. With 7.96 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.94 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $10.79 whereas the lowest price it dropped to was $10.43. The 52-week range on PR shows that it touched its highest point at $11.43 and its lowest point at $5.08 during that stretch. It currently has a 1-year price target of $11.89. With its current market cap of 5.81 billion, PR has annualized dividend of $0.20 while the current yield stands at 1.91%. Beta for the stock currently stands at 4.60.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PR was up-trending over the past week, with a rise of 3.66%, but this was up by 14.18% over a month. Three-month performance surged to 8.84% while six-month performance rose 65.93%. The stock gained 44.61% in the past year, while it has gained 11.38% so far this year. A look at the trailing 12-month EPS for PR yields 1.83 with Next year EPS estimates of 2.04. For the next quarter, that number is 0.51. This implies an EPS growth rate of 118.10% for this year and 7.05% for next year. EPS is expected to grow by 6.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.40%.

Float and Shares Shorts:

At present, 286.25 million PR shares are outstanding with a float of 207.52 million shares on hand for trading. On Oct 13, 2022, short shares totaled 48.61 million, which was 16.88% higher than short shares on Sep 14, 2022. In addition to Mr. George S. Glyphis as the firm’s Exec. VP & Chief Financial Officer, Mr. Matthew R. Garrison serves as its Exec. VP & COO.

Institutional Ownership:

Through their ownership of 88.85% of PR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of PR, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 3.90% stake in PR, the American Funds Insurance Series – is the largest stakeholder. A total of 11,260,000 shares are owned by the mutual fund manager. The SPDR S&P Oil & Gas Exploration &, which owns about 3.85% of PR stock, is the second-largest Mutual Fund holder. It holds 11,115,253 shares valued at 104.48 million. Vanguard Total Stock Market Index holds 1.82% of the stake in PR, owning 5,262,498 shares worth 49.47 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PR since 15 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PR analysts setting a high price target of $15.00 and a low target of $11.00, the average target price over the next 12 months is $12.50. Based on these targets, PR could surge 43.27% to reach the target high and rise by 5.06% to reach the target low. Reaching the average price target will result in a growth of 19.39% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PR will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of $3.16 being high and $1.60 being low. For PR, this leads to a yearly average estimate of $1.87. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Permian Resources Corporation surprised analysts by $0.23 when it reported $0.70 EPS against a consensus estimate of $0.47. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is $0.87 and the low estimate is $0.28. The average estimate for the next quarter is thus $0.49.

Summary of Insider Activity:

Insiders traded PR stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 80,666 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 44 over the past year. The total number of shares bought during that period was 1,693,838 while 47,913,902 shares were sold.

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