Presidio Production (NYSE:FTW) Announces Quarterly Earnings Results

Presidio Production (NYSE:FTW) posted its earnings results on Friday. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($1.90), FiscalAI reports. The business had revenue of $57.33 million for the quarter.

Here are the key takeaways from Presidio Production’s conference call:

• Presidio raised its quarterly dividend to $0.375 per share ($1.50 annualized), attributing the increase to Canyon Creek’s contribution and its stated policy of growing the payout with realized cash flow.
• Production reached a company-record 26,133 BOE per day, up about 15% sequentially with Canyon Creek included, while lease operating expense fell to $9.10 per BOE. Management said it expects to reduce Canyon Creek’s operating costs by about 32%, following a roughly 30% reduction at EQVR.
• AI programs lifted production from existing wells by 3.2% in the quarter, up from 2.3% in Q2, toward the company’s 3%–5% full-year target without drilling or added capital spending. Management sees further potential from well reactivations and expanding its AI platform, though broader 2027 results are not yet specified.
• Presidio reported a $46.4 million net loss, driven by a $66.5 million unrealized, non-cash loss on its hedge book as prices rose. The company reported $349.4 million of net debt and 2.8x leverage, while noting nearly $100 million of liquidity.
• Management said it remains active in acquisitions, citing more than $17 billion of identified targets across three basins, and reported $17 million of leasehold sales so far this year. It also said most debt is effectively fixed-rate, limiting its exposure to rising interest rates.

Presidio Production Stock Up 2.5%

NYSE:FTW traded up $0.26 during mid-day trading on Friday, hitting $10.48. The stock had a trading volume of 132,092 shares, compared to its average volume of 51,296. Presidio Production has a twelve month low of $9.46 and a twelve month high of $17.20. The stock has a 50-day simple moving average of $10.13 and a two-hundred day simple moving average of $11.09.

Analyst Ratings Changes

FTW has been the subject of several recent analyst reports. Wall Street Zen cut Presidio Production from a “hold” rating to a “sell” rating in a research note on Saturday. Stephens initiated coverage on shares of Presidio Production in a research report on Thursday, October 8th. They set an “overweight” rating and a $15.00 price objective for the company. BTIG Research reiterated a “buy” rating and set a $15.00 price target on shares of Presidio Production in a research note on Friday. Finally, Weiss Ratings lowered Presidio Production from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

About Presidio Production

Presidio Production Company is an independent oil and natural gas exploration and production company. Its activities include acquiring, developing and producing oil and gas properties. The company’s operations are focused on the Permian Basin, spanning West Texas and southeastern New Mexico. Presidio is based in Fort Worth, Texas.