Permian Resources Corp (NYSE:PR) shares, rose in value, with the stock price up by 1.19% to the previous day’s close as strong demand from buyers drove the stock to $17.93.
Actively observing the price movement in the last trading, the stock closed the session at $17.72. The value of beta (5-year monthly) was 4.36 whereas the PE ratio was 15.48 over 12-month period. Referring to stock’s 52-week performance, its high was $18.03, and the low was $8.80. On the whole, PR has fluctuated by 15.44% over the past month.
With the market capitalization of Permian Resources Corp currently standing at about $9.70 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 06, 2024 – May 10, 2024. The company’s Forward Dividend Ratio is 0.20, with its dividend yield at 1.12%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.37, which is expected to increase to $0.64 for fiscal year $1.62 and then to about $1.87 by fiscal year 2025. Data indicates that the EPS growth is expected to be 30.60% in 2025, while the next year’s EPS growth is forecast to be 15.40%.
Analysts have estimated the company’s revenue for the quarter at $1.2 billion, with a low estimate of $1.11 billion and a high estimate of $1.24 billion. According to the average forecast, sales growth in current quarter could jump up 94.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.97 billion, representing an increase of 59.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that PR’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.19, with the price of PR currently trading nearly 6.22% and 17.43% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 77.06, while the 7-day volatility ratio is showing 2.10% which for the 30-day chart, stands at 2.20%. Furthermore, Permian Resources Corp (PR)’s beta value is 4.35, and its average true range (ATR) is 0.39.
A comparison of Permian Resources Corp (PR) with its peers suggests the former has fared considerably weaker in the market. PR showed an intraday change of 1.19% in last session, and over the past year, it grew by 66.01%%.
Data on historical trading for Permian Resources Corp (NYSE:PR) indicates that the trading volumes over the past 10 days have averaged 9.68 million and over the past 3 months, they’ve averaged 9.84 million. According to company’s latest data on outstanding shares, there are 540.79 million shares outstanding.
Nearly 23.89% of Permian Resources Corp’s shares belong to company insiders and institutional investors own 78.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 40.83 million shares as on Mar 15, 2024, resulting in a short ratio of 3.3. According to the data, the short interest in Permian Resources Corp (PR) stood at 7.04% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 41.93 million. The stock has risen by 32.67% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PR stock heading into the next quarter.
