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Behind the brand:

'Boutique hotel at sea': Virgin Voyages CEO hails Branson's 'biggest endeavour'

On board entrepreneur's latest venture

Permian Resources (PR) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3-min read

Permian Resources (PR) closed the most recent trading day at $9.77, moving +0.83% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.

Heading into today, shares of the company had gained 42.5% over the past month, outpacing the Oils-Energy sector's gain of 16.47% and the S&P 500's gain of 4.98% in that time.

Permian Resources will be looking to display strength as it nears its next earnings release, which is expected to be November 8, 2022. The company is expected to report EPS of $0.43, up 72% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $507.25 million, up 75.82% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.77 per share and revenue of $2.08 billion, which would represent changes of +156.52% and +101.69%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for Permian Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.1% lower within the past month. Permian Resources is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Permian Resources currently has a Forward P/E ratio of 5.47. This valuation marks a premium compared to its industry's average Forward P/E of 5.43.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Permian Resources Corporation (PR) : Free Stock Analysis Report
 
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Zacks Investment Research