Permian Resources Corporation (NYSE:PR) concluded the trading at $7.02 on Wednesday, September 21 with a fall of -3.97% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $7.31 with its price kept floating in the range of $6.97 and $7.50 on the day. Company’s P/E ratio for the trailing 12 months is 5.66. Considering stock’s 52-week price range provides that PR hit a high price of $9.70 and saw its price falling to a low level of $5.08 during that period. Over a period of past 1-month, stock came subtracting -5.39% in its value.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review PR stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Sell. Long term indicators are suggesting an average of 100% Sell for it.
According to ratings assigned by 11 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 3 of them are recommending Permian Resources Corporation (PR) as a Hold, while 7 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 0, whereas 1 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.
Digging deeper we become aware of the PEG ratio of the PR stock which is currently positioned at 0.94. It further provides that stock’s current price level is -11.91% away from its 20-day simple moving average and is -0.99% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 41.05 while volatility remained at 5.32% over the past week which changes to 5.71% when measuring it over the past month. Average true range or ATR is currently at 0.46. In predicting price targets of as low as $6.50 and as high as $13.00, analysts are in agreement on assigning the stock over the next 12 months average price target of $10.50. Stock’s current price level is 7.41% above from estimated low price target while it is -85.19% below the estimated high; and even if the PR’s share succeeded to reach the median price of $11.00, then the outlook of -56.7% could come to the excitement of the investors.
In comparing Permian Resources Corporation (PR)’s stock with other industry players reveals that stock’s current price change of -3.97% and that of 30.00% over the past 12 months. Industry’s another major player ProPetro Holding Corp. (PUMP) has fall -1.20% down in previous session, but over the past year has faced a rise of 14.42% over the same period. Permian Resources Corporation has a P/E ratio of 5.66. On the other hand, the S&P 500 Index was down -1.71% in the last trading session while the Dow Jones Industrial closed the session lower at -1.70%.
Having a second look at Permian Resources Corporation (NYSE:PR) provides that stock’s average daily trading volume for 3 months was 8.54 million, while it jumped to 6.6 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 284.99 million.
The percentage of outstanding shares held by the insiders is 3.60% while it is 86.50% for the institutional holders. The figures also indicate that as of Aug 14, 2022, number of stock’s short shares was 39.25 million which implies a short ratio of 5.1. This shows down a 13.77% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 40.14 million in the previous month. Addition of 17.39% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.