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Permian Resources (PR) Stock Moves -1.79%: What You Should Know
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In the latest trading session, Permian Resources (PR - Free Report) closed at $10.96, marking a -1.79% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.85%. Elsewhere, the Dow lost 1.66%, while the tech-heavy Nasdaq lost 10.91%.
Prior to today's trading, shares of the company had gained 7.41% over the past month. This has outpaced the Oils-Energy sector's loss of 1.58% and the S&P 500's loss of 2.85% in that time.
Investors will be hoping for strength from Permian Resources as it approaches its next earnings release. In that report, analysts expect Permian Resources to post earnings of $0.45 per share. This would mark year-over-year growth of 21.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $698.66 million, up 101.18% from the year-ago period.
PR's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $3.14 billion. These results would represent year-over-year changes of +40.27% and +47.17%, respectively.
Any recent changes to analyst estimates for Permian Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 6.26% lower within the past month. Permian Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Permian Resources is currently trading at a Forward P/E ratio of 5.34. For comparison, its industry has an average Forward P/E of 6.06, which means Permian Resources is trading at a discount to the group.
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 226, which puts it in the bottom 11% 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 (PR) Stock Moves -1.79%: What You Should Know
In the latest trading session, Permian Resources (PR - Free Report) closed at $10.96, marking a -1.79% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.85%. Elsewhere, the Dow lost 1.66%, while the tech-heavy Nasdaq lost 10.91%.
Prior to today's trading, shares of the company had gained 7.41% over the past month. This has outpaced the Oils-Energy sector's loss of 1.58% and the S&P 500's loss of 2.85% in that time.
Investors will be hoping for strength from Permian Resources as it approaches its next earnings release. In that report, analysts expect Permian Resources to post earnings of $0.45 per share. This would mark year-over-year growth of 21.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $698.66 million, up 101.18% from the year-ago period.
PR's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $3.14 billion. These results would represent year-over-year changes of +40.27% and +47.17%, respectively.
Any recent changes to analyst estimates for Permian Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 6.26% lower within the past month. Permian Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Permian Resources is currently trading at a Forward P/E ratio of 5.34. For comparison, its industry has an average Forward P/E of 6.06, which means Permian Resources is trading at a discount to the group.
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 226, which puts it in the bottom 11% 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.