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Permian Resources (PR) Gains But Lags Market: What You Should Know
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Permian Resources (PR - Free Report) closed the most recent trading day at $10.54, moving +0.57% from the previous trading session. This change lagged the S&P 500's 1.89% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.
Prior to today's trading, shares of the company had gained 18.42% over the past month. This has outpaced the Oils-Energy sector's gain of 5.98% and the S&P 500's gain of 2.3% in that time.
Permian Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Permian Resources to post earnings of $0.54 per share. This would mark year-over-year growth of 38.46%. Meanwhile, our latest consensus estimate is calling for revenue of $781.81 million, up 147.08% from the prior-year quarter.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Permian Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 4.34. Its industry sports an average Forward P/E of 5.23, 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 233, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PR in the coming trading sessions, be sure to utilize Zacks.com.
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Permian Resources (PR) Gains But Lags Market: What You Should Know
Permian Resources (PR - Free Report) closed the most recent trading day at $10.54, moving +0.57% from the previous trading session. This change lagged the S&P 500's 1.89% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.
Prior to today's trading, shares of the company had gained 18.42% over the past month. This has outpaced the Oils-Energy sector's gain of 5.98% and the S&P 500's gain of 2.3% in that time.
Permian Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Permian Resources to post earnings of $0.54 per share. This would mark year-over-year growth of 38.46%. Meanwhile, our latest consensus estimate is calling for revenue of $781.81 million, up 147.08% from the prior-year quarter.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Permian Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 4.34. Its industry sports an average Forward P/E of 5.23, 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 233, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PR in the coming trading sessions, be sure to utilize Zacks.com.