A look into Permian Resources Corporation (PR)’s deeper side

Permian Resources Corporation (NYSE: PR) stock fell -5.39% on Thursday to $9.48 against a previous-day closing price of $10.02. With 7.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 7.39 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $9.88 whereas the lowest price it dropped to was $9.41. The 52-week range on PR shows that it touched its highest point at $11.99 and its lowest point at $5.05 during that stretch. It currently has a 1-year price target of $13.68. With its current market cap of 5.13 billion, PR has annualized dividend of $0.20 while the current yield stands at 2.11%. Beta for the stock currently stands at 4.55.

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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 2.05%, but this was down by -3.25% over a month. Three-month performance dropped to -13.36% while six-month performance fell -10.93%. The stock gained 41.40% in the past year, while it has gained 1.39% so far this year. A look at the trailing 12-month EPS for PR yields 1.94 with Next year EPS estimates of 2.11. For the next quarter, that number is 0.41. This implies an EPS growth rate of 262.00% for this year and 23.55% 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 40.30%.

Float and Shares Shorts:

At present, 295.91 million PR shares are outstanding with a float of 207.47 million shares on hand for trading. On May 14, 2023, short shares totaled 32.07 million, which was 10.20% higher than short shares on Apr 13, 2023. In addition to Mr. William M. Hickey III as the firm’s Director & Co-CEO, Mr. James H. Walter serves as its Director & Co-CEO.

Institutional Ownership:

Through their ownership of 87.11% 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 2.57% stake in PR, the SPDR S&P Oil & Gas Exploration & is the largest stakeholder. A total of 7,446,142 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.16% of PR stock, is the second-largest Mutual Fund holder. It holds 6,254,163 shares valued at 65.36 million. Vanguard Small Cap Index Fund holds 1.83% of the stake in PR, owning 5,305,465 shares worth 55.44 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PR reported revenue of $472.65M and operating income of $289.29M. The EBITDA in the recently reported quarter was $289.37M and diluted EPS was $0.60.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PR since 0 analysts follow the stock currently. 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 $18.00 and a low target of $11.00, the average target price over the next 12 months is $14.07. Based on these targets, PR could surge 89.87% to reach the target high and rise by 16.03% to reach the target low. Reaching the average price target will result in a growth of 48.42% 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.

Summary of Insider Activity:

Insiders traded PR stock several times over the past three months with 3 Buys and 15 Sells. In these transactions, 17,304,930 shares were bought while 80,368,984 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 18,446,537 while 82,077,413 shares were sold.

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