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Permian Resources (PR) Gains As Market Dips: What You Should Know
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Permian Resources (PR - Free Report) closed the most recent trading day at $11.14, moving +1% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the company had lost 5.57% over the past month, lagging the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.48% 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 $0.45 per share, which would represent year-over-year growth of 21.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $698.43 million, up 101.12% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.09 per share and revenue of $3.14 billion. These totals would mark changes of +40.27% and +47.43%, 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. 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. 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 4.9% lower within the past month. Permian Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 5.27. Its industry sports an average Forward P/E of 6.66, 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 industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% 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) Gains As Market Dips: What You Should Know
Permian Resources (PR - Free Report) closed the most recent trading day at $11.14, moving +1% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the company had lost 5.57% over the past month, lagging the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.48% 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 $0.45 per share, which would represent year-over-year growth of 21.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $698.43 million, up 101.12% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.09 per share and revenue of $3.14 billion. These totals would mark changes of +40.27% and +47.43%, 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. 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. 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 4.9% lower within the past month. Permian Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 5.27. Its industry sports an average Forward P/E of 6.66, 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 industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% 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.