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Permian Resources (PR) Gains But Lags Market: What You Should Know
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Permian Resources (PR - Free Report) closed at $9.69 in the latest trading session, marking a +0.73% move from the prior day. The stock lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Prior to today's trading, shares of the company had gained 51.26% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Permian Resources as it approaches its next earnings release. On that day, Permian Resources is projected to report earnings of $0.39 per share, which would represent year-over-year growth of 56%. Meanwhile, our latest consensus estimate is calling for revenue of $484.75 million, up 68.02% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.70 per share and revenue of $2.07 billion. These totals would mark changes of +146.38% and +101.23%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Permian Resources. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 14.4% lower within the past month. Permian Resources is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 5.66. This represents a premium compared to its industry's average Forward P/E of 5.29.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Permian Resources (PR) Gains But Lags Market: What You Should Know
Permian Resources (PR - Free Report) closed at $9.69 in the latest trading session, marking a +0.73% move from the prior day. The stock lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Prior to today's trading, shares of the company had gained 51.26% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Permian Resources as it approaches its next earnings release. On that day, Permian Resources is projected to report earnings of $0.39 per share, which would represent year-over-year growth of 56%. Meanwhile, our latest consensus estimate is calling for revenue of $484.75 million, up 68.02% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.70 per share and revenue of $2.07 billion. These totals would mark changes of +146.38% and +101.23%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Permian Resources. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 14.4% lower within the past month. Permian Resources is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 5.66. This represents a premium compared to its industry's average Forward P/E of 5.29.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.