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

Zacks Equity Research
·3-min read

Permian Resources (PR) closed at $9.67 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.63%. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.

Heading into today, shares of the company had gained 57.05% over the past month, outpacing the Oils-Energy sector's gain of 15.61% and the S&P 500's gain of 2.94% 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. On that day, Permian Resources is projected to report earnings of $0.41 per share, which would represent year-over-year growth of 64%. Our most recent consensus estimate is calling for quarterly revenue of $484.75 million, up 68.02% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.75 per share and revenue of $2.07 billion. These totals would mark changes of +153.62% and +101.23%, respectively, from last year.

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It is also important to note the recent changes to analyst estimates for Permian Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.76% lower. Permian Resources is holding a Zacks Rank of #4 (Sell) right now.

Digging into valuation, Permian Resources currently has a Forward P/E ratio of 5.54. This valuation marks a premium compared to its industry's average Forward P/E of 5.34.

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 44, putting it in the top 18% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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