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Why Is Permian Resources (PR) Up 16% Since Last Earnings Report?
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A month has gone by since the last earnings report for Permian Resources (PR - Free Report) . Shares have added about 16% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Permian Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Permian Resources reported a third-quarter 2025 adjusted net income per share of 37 cents, which beat the Zacks Consensus Estimate of 30 cents. Additionally, the bottom line increased from the year-ago quarter’s reported figure of 35 cents. This outperformance was driven by a rise in production volumes and an increased natural gas realized price.
Meanwhile, Permian Resources’ oil and gas sales of $1.3 billion increased 8.7% from the year-ago quarter but missed the Zacks Consensus Estimate by $16 million.
The Midland, TX-based oil and gas exploration and production company’s board of directors declared a quarterly cash dividend of 15 cents per share of common stock, equivalent to 60 cents on an annual basis. The dividend will be paid on Dec. 31, to its shareholders of record as of Dec. 17, 2025.
Production & Price Realizations
The average daily third-quarter production (comprising 45.6% oil) was up 18.2% from the year-ago level to 410,225 barrels of oil equivalent (Boe) and beat the Zacks Consensus Estimate of 394,559 Boe. The company’s production outperformance was driven by continued strong execution, particularly from a large-scale Texas development that was brought online in the quarter.
Oil volume for the period was 186,937 barrels per day (Bbls/d), up 16.2% year over year. The consensus mark was pegged at 181,975 Bbls/d. PR’s natural gas production was 704,795 thousand cubic feet (Mcf) per day, while NGL output totaled 105,822 Bbls/d.
The average sales price for oil during the third quarter was $64.77 per barrel, down 14.7% from the prior-year realization of $74.31. The figure beat the consensus mark of $64.
The average realized natural gas price in the third quarter was 52 cents per Mcf compared with negative 67 cents in the year-earlier period. The figure beat the Zacks Consensus Estimate of 45 cents.
Meanwhile, the average realized NGL price was $17.50 per barrel, down from $19.44 realized in the third quarter of 2024.
Costs & Expenses
Total operating expenses in the quarter rose to $930.9 million from $820.8 million in the year-ago quarter. This was primarily due to a 10.4% year-over-year increase in lease operating costs, which rose to $191.3 million, a 14% year-over-year increase in General and administrative expenses and a 16.2% rise in depreciation, depletion and amortization, which totaled $526.9 million.
Financial Position
Adjusted cash flow from operations increased 15.3% to $948.5 million, while Permian Resources’ capital expenditure totaled $479.7 million, leading to adjusted free cash flow of $468.8 million.
During the quarter, the company repurchased 2.3 million shares at a weighted average price of $13.49 per share.
As of Sept. 30, PR had $111.8 million in cash and cash equivalents. The company had a long-term debt of $3.5 billion, reflecting a debt-to-capitalization of 26.1%.
Guidance for 2025
Permian Resources has raised its 2025 oil production target by 3 MBbls/d to 181.5 MBbls/d and increased its total production target by 9 MBoe/d to 394 MBoe/d, both based on the midpoint of guidance. This upward revision reflects continued strong well results.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 5.65% due to these changes.
VGM Scores
At this time, Permian Resources has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Permian Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Permian Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Antero Resources (AR - Free Report) , a stock from the same industry, has gained 12.2%. The company reported its results for the quarter ended September 2025 more than a month ago.
Antero Resources reported revenues of $1.21 billion in the last reported quarter, representing a year-over-year change of +15%. EPS of $0.15 for the same period compares with -$0.12 a year ago.
For the current quarter, Antero Resources is expected to post earnings of $0.54 per share, indicating a change of -6.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -5.2% over the last 30 days.
Antero Resources has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
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Why Is Permian Resources (PR) Up 16% Since Last Earnings Report?
A month has gone by since the last earnings report for Permian Resources (PR - Free Report) . Shares have added about 16% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Permian Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Permian Resources Q3 Earnings Beat Estimates, Increase Y/Y
Permian Resources reported a third-quarter 2025 adjusted net income per share of 37 cents, which beat the Zacks Consensus Estimate of 30 cents. Additionally, the bottom line increased from the year-ago quarter’s reported figure of 35 cents. This outperformance was driven by a rise in production volumes and an increased natural gas realized price.
Meanwhile, Permian Resources’ oil and gas sales of $1.3 billion increased 8.7% from the year-ago quarter but missed the Zacks Consensus Estimate by $16 million.
The Midland, TX-based oil and gas exploration and production company’s board of directors declared a quarterly cash dividend of 15 cents per share of common stock, equivalent to 60 cents on an annual basis. The dividend will be paid on Dec. 31, to its shareholders of record as of Dec. 17, 2025.
Production & Price Realizations
The average daily third-quarter production (comprising 45.6% oil) was up 18.2% from the year-ago level to 410,225 barrels of oil equivalent (Boe) and beat the Zacks Consensus Estimate of 394,559 Boe. The company’s production outperformance was driven by continued strong execution, particularly from a large-scale Texas development that was brought online in the quarter.
Oil volume for the period was 186,937 barrels per day (Bbls/d), up 16.2% year over year. The consensus mark was pegged at 181,975 Bbls/d. PR’s natural gas production was 704,795 thousand cubic feet (Mcf) per day, while NGL output totaled 105,822 Bbls/d.
The average sales price for oil during the third quarter was $64.77 per barrel, down 14.7% from the prior-year realization of $74.31. The figure beat the consensus mark of $64.
The average realized natural gas price in the third quarter was 52 cents per Mcf compared with negative 67 cents in the year-earlier period. The figure beat the Zacks Consensus Estimate of 45 cents.
Meanwhile, the average realized NGL price was $17.50 per barrel, down from $19.44 realized in the third quarter of 2024.
Costs & Expenses
Total operating expenses in the quarter rose to $930.9 million from $820.8 million in the year-ago quarter. This was primarily due to a 10.4% year-over-year increase in lease operating costs, which rose to $191.3 million, a 14% year-over-year increase in General and administrative expenses and a 16.2% rise in depreciation, depletion and amortization, which totaled $526.9 million.
Financial Position
Adjusted cash flow from operations increased 15.3% to $948.5 million, while Permian Resources’ capital expenditure totaled $479.7 million, leading to adjusted free cash flow of $468.8 million.
During the quarter, the company repurchased 2.3 million shares at a weighted average price of $13.49 per share.
As of Sept. 30, PR had $111.8 million in cash and cash equivalents. The company had a long-term debt of $3.5 billion, reflecting a debt-to-capitalization of 26.1%.
Guidance for 2025
Permian Resources has raised its 2025 oil production target by 3 MBbls/d to 181.5 MBbls/d and increased its total production target by 9 MBoe/d to 394 MBoe/d, both based on the midpoint of guidance. This upward revision reflects continued strong well results.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 5.65% due to these changes.
VGM Scores
At this time, Permian Resources has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Permian Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Permian Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Antero Resources (AR - Free Report) , a stock from the same industry, has gained 12.2%. The company reported its results for the quarter ended September 2025 more than a month ago.
Antero Resources reported revenues of $1.21 billion in the last reported quarter, representing a year-over-year change of +15%. EPS of $0.15 for the same period compares with -$0.12 a year ago.
For the current quarter, Antero Resources is expected to post earnings of $0.54 per share, indicating a change of -6.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -5.2% over the last 30 days.
Antero Resources has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.