Permian Resources Corp (NYSE:PR) shares traded -2.64% lower at $16.57 on Wall Street last session.
PR stock price is now -2.52% away from the 50-day moving average and 15.96% away from the 200-day moving average. The market capitalization of the company currently stands at $9.65B.
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With the price target of $24, Raymond James recently initiated with Strong Buy rating for Permian Resources Corp (NYSE: PR). On January 05, 2024, BofA Securities recently initiated its ‘Neutral’ rating on the stock quoting a target price of $15, while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, EnCap Partners GP, LLC, 10% Owner sold 9,000,000 shares of the company’s stock on Mar 06 ’24. The stock was sold for $141,390,000 at an average price of $15.71. Upon completion of the transaction, the 10% Owner now directly owns 25,477,527 shares in the company, valued at $422.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 06 ’24, Co-Chief Executive Officer Hickey William M III sold 4,000,000 shares of the business’s stock. A total of $62,840,000 was realized by selling the stock at an average price of $15.71. A total of 20.38% of the company’s stock is owned by insiders.
During the past 12 months, Permian Resources Corp has had a low of $8.80 and a high of $18.28. As of last week, the company has a debt-to-equity ratio of 0.58, a current ratio of 0.55, and a quick ratio of 0.55.
According to the Oil & Gas E&P Company, earnings per share came in at 0.21, missing analysts’ expectations of 0.32 by -0.11. This compares to $0.65 EPS in the same period last year. The net profit margin was 13.93% and return on equity was 10.26% for PR. The company reported revenue of $1.24 billion for the quarter, compared to $616.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 101.7 percent. For the current quarter, analysts expect PR to generate $1.24B in revenue.
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