Permian Resources Corp (PR): Street Finally Waking Up

Currently, there are 702.89M common shares owned by the public and among those 538.55M shares have been available to trade.

The company’s stock has a 5-day price change of -6.32% and 11.73% over the past three months. PR shares are trading 10.60% year to date (YTD), with the 12-month market performance up to 20.14% higher. It has a 12-month low price of $12.04 and touched a high of $17.94 over the same period. PR has an average intraday trading volume of 9.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.37%, 0.76%, and -4.18% respectively.

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Institutional ownership of Permian Resources Corp (NYSE: PR) shares accounts for 83.04% of the company’s 702.89M shares outstanding.

It has a market capitalization of $11.32B and a beta (3y monthly) value of 4.32. The stock’s trailing 12-month PE ratio is 8.92, while the earnings-per-share (ttm) stands at $1.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.24% over the week and 2.60% over the month.

Earnings per share for the fiscal year are expected to increase by 18.80%, and 1.44% over the next financial year. EPS should shrink at an annualized rate of 0.00% over the next five years, compared to 10.57% over the past 5-year period.

Looking at the support for the PR, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on September 30, 2024, with the firm’s price target at $19. BMO Capital Markets was of a view on July 03, 2024 that the stock is Outperform, while BofA Securities gave the stock Buy rating on June 14, 2024, issuing a price target of $20. Raymond James on their part issued Strong Buy rating on April 09, 2024.

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