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Permian Resources (PR) Stock Moves -0.39%: What You Should Know

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Permian Resources (PR - Free Report) closed the most recent trading day at $10.19, moving -0.39% from the previous trading session. This change was narrower than the S&P 500's 1.04% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 5.88%.

Heading into today, shares of the company had gained 19.79% over the past month, outpacing the Oils-Energy sector's loss of 0.27% and the S&P 500's gain of 8.97% in that time.

Permian Resources will be looking to display strength as it nears its next earnings release. On that day, Permian Resources is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 25.64%. Meanwhile, our latest consensus estimate is calling for revenue of $736 million, up 132.6% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Permian Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 7.76% lower within the past month. Permian Resources currently has a Zacks Rank of #3 (Hold).

Investors should also note Permian Resources's current valuation metrics, including its Forward P/E ratio of 4.59. Its industry sports an average Forward P/E of 5.93, so we one might conclude that Permian Resources is trading at a discount comparatively.

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 245, putting it in the bottom 3% 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.

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