Permian Resources Corp (NYSE:PR) price on current trading day, rose 0.61% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.93.
A look at the stock’s price movement, the level at last check in today’s session was $13.85, moving within a range at $13.86 and $14.095. The beta value (5-Year monthly) was 4.33 while the PE ratio in trailing twelve months stood at 11.18. Turning to its 52-week performance, $17.94 and $12.04 were the 52-week high and 52-week low respectively. Overall, PR moved 1.34% over the past month.
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Permian Resources Corp’s market cap currently stands at around $9.78 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-06. The company has a Forward Dividend ratio of 0.22, with its dividend yield at 1.56%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.23B for the company’s revenue for the quarter, with a low and high estimate of 1.15B and 1.35B respectively. The average forecast suggests up to a 62.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.04B, representing a 61.40% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PR is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 9 recommend PR as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PR’s current price about -1.18% and -0.41% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.31, while 7-day volatility ratio is 2.33% and 2.63% in the 30-day chart. Further, Permian Resources Corp (PR) has a beta value of 4.36, and an average true range (ATR) of 0.39. Analysts have given the company’s stock an average 52-week price target of $20, forecast between a low of $5 and high of $24. Looking at the price targets, the low is 64.11% off recent price level in today’s trading while to achieve the yearly target high, it has to move -72.29%. Nonetheless, investors will most likely welcome a -43.58% jump to $20 which is the analysts’ median price.
If we refocus on Permian Resources Corp (NYSE:PR), historical trading data shows that trading volumes averaged 9.52 over the past 10 days and 10.42 million over the past 3 months. The company’s latest data on shares outstanding shows there are 540.79 million shares.
The 23.76% of Permian Resources Corp’s shares are in the hands of company insiders while institutional holders own 75.93% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 36.35 million on 2024-09-30, giving us a short ratio of 3.46. The data shows that as of 2024-09-30 short interest in Permian Resources Corp (PR) stood at 519.9999700000001 of shares outstanding, with shares short rising to 31.68 million registered in 2024-08-30. Current price change has pushed the stock 5.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PR stock continues to rise going into the next quarter.
