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

Permian Resources Corporation (NYSE:PR) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, December 17th will be given a dividend of $0.16 per share on Thursday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, December 17th.

Permian Resources has a payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Permian Resources to earn $2.71 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 23.6%.

Permian Resources Trading Down 6.4%

Permian Resources stock opened at $22.45 on Thursday. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 14.87 and a beta of 0.62. The firm has a 50-day moving average of $23.42 and a 200-day moving average of $20.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.62. Permian Resources has a one year low of $12.06 and a one year high of $26.07.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.78 billion. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%. Permian Resources’s quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, equities analysts expect that Permian Resources will post 2.46 earnings per share for the current fiscal year.

Permian Resources Company Profile

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development, and production of hydrocarbons in the Permian Basin. Its operations are concentrated in the Delaware Basin, a prolific oil-producing region spanning southeastern New Mexico and West Texas.

The company’s production portfolio includes crude oil, natural gas, and natural gas liquids. Permian Resources develops its acreage through horizontal drilling and multi-well development programs, with activities that include drilling, completion, production, and infrastructure management.