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Is Permian Resources Corp (PR) a good stock to buy now?

Permian Resources Corp (NYSE: PR) is 29.71% higher on its value in year-to-date trading and has touched a low of $8.80 and a high of $17.83 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PR stock was last observed hovering at around $17.72 in the last trading session, with the day’s loss setting it -0.19%.

Currently trading at $17.53, the stock is 5.91% and 16.89% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.16 million and changing -1.07% at the moment leaves the stock 31.38% off its SMA200. PR registered 73.98% gain for a year compared to 6-month gain of 27.05%. The firm has a 50-day simple moving average (SMA 50) of $4.49 and a 200-day simple moving average (SMA200) of $6.35.

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The stock witnessed a 9.91% loss in the last 1 month and extending the period to 3 months gives it a 29.71%, and is 1.39% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.18% over the week and 2.19% over the month.

Permian Resources Corp (PR) has around 461 employees, a market worth around $9.48B and $3.12B in sales. Current P/E ratio is 15.14 and Fwd P/E is 9.73. Profit margin for the company is 15.26%. Distance from 52-week low is 99.19% and -1.65% from its 52-week high. The company has generated returns on investments over the last 12 months (4.66%).

Permian Resources Corp quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $1.2B over the same period.The EPS is expected to grow by 27.51% this year, but quarterly earnings will post 59.30% year-over-year. Quarterly sales are estimated to grow 94.20% in year-over-year returns.

Permian Resources Corp (PR) Top Institutional Holders

497 institutions hold shares in Permian Resources Corp (PR), with institutional investors hold 101.53% of the company’s shares. The shares outstanding are 540.79M, and float is at 411.74M with Short Float at 9.92%. Institutions hold 98.02% of the Float.

The top institutional shareholder in the company is Riverstone Holdings Llc with over 55.27 million shares valued at $605.72 million. The investor’s holdings represent 15.80% of the PR Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 24.32 million shares valued at $266.54 million to account for 6.95% of the shares outstanding. The other top investors are Blackrock Inc. which holds 17.94 million shares representing 5.13% and valued at over $196.66 million, while Nuveen Asset Management, LLC holds 5.01% of the shares totaling 17.53 million with a market value of $192.15 million.

Permian Resources Corp (PR) Insider Activity

The most recent transaction is an insider sale by EnCap Partners GP, LLC,the company’s10% Owner. SEC filings show that EnCap Partners GP, LLC sold 9,000,000 shares of the company’s common stock on Mar 06 ’24 at a price of $15.71 per share for a total of $141.39 million. Following the sale, the insider now owns 25.48 million shares.

Permian Resources Corp disclosed in a document filed with the SEC on Mar 06 ’24 that Hickey William M III (Co-Chief Executive Officer) sold a total of 4,000,000 shares of the company’s common stock. The trade occurred on Mar 06 ’24 and was made at $15.71 per share for $62.84 million. Following the transaction, the insider now directly holds 0.0 shares of the PR stock.

Still, SEC filings show that on Mar 06 ’24, Walter James H (Co-Chief Executive Officer) disposed off 4,000,000 shares at an average price of $15.71 for $62.84 million. The insider now directly holds 0 shares of Permian Resources Corp (PR).

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