Permian Resources Corporation Declares Quarterly Dividend of $0.16 (NYSE:PR)

Permian Resources Corporation (NYSE:PR) announced a quarterly dividend on Wednesday, May 6th. Investors of record on Tuesday, June 16th will be given a dividend of 0.16 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 16th.

Permian Resources has a dividend payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Permian Resources to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 31.8%.

Permian Resources Stock Down 7.3%

Shares of NYSE PR opened at $19.67 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $20.07 and its two-hundred day moving average is $16.43. Permian Resources has a 52-week low of $11.92 and a 52-week high of $22.67. The firm has a market cap of $16.45 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.26 and a beta of 0.52.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that Permian Resources will post 1.92 EPS for the current year.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.