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Permian Resources (PR) Flat As Market Gains: What You Should Know
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Permian Resources (PR - Free Report) closed the most recent trading day at $10.52, making no change from the previous trading session. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
Heading into today, shares of the company had gained 4.99% over the past month, outpacing the Oils-Energy sector's gain of 3.79% and the S&P 500's gain of 4.49% in that time.
Permian Resources will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Permian Resources to post earnings of $0.49 per share. This would mark year-over-year growth of 25.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $736 million, up 132.6% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Permian Resources. These revisions help to show the ever-changing nature of near-term business trends. 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. The Zacks Consensus EPS estimate has moved 7.76% lower within the past month. Permian Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 4.72. Its industry sports an average Forward P/E of 6.14, 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 244, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PR in the coming trading sessions, be sure to utilize Zacks.com.
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Permian Resources (PR) Flat As Market Gains: What You Should Know
Permian Resources (PR - Free Report) closed the most recent trading day at $10.52, making no change from the previous trading session. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
Heading into today, shares of the company had gained 4.99% over the past month, outpacing the Oils-Energy sector's gain of 3.79% and the S&P 500's gain of 4.49% in that time.
Permian Resources will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Permian Resources to post earnings of $0.49 per share. This would mark year-over-year growth of 25.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $736 million, up 132.6% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Permian Resources. These revisions help to show the ever-changing nature of near-term business trends. 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. The Zacks Consensus EPS estimate has moved 7.76% lower within the past month. Permian Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Permian Resources is holding a Forward P/E ratio of 4.72. Its industry sports an average Forward P/E of 6.14, 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 244, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PR in the coming trading sessions, be sure to utilize Zacks.com.