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

Permian Resources Corporation (NYSE:PR) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, September 16th will be given a dividend of 0.16 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, September 16th.

Permian Resources has a payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Permian Resources to earn $1.96 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 32.7%.

Permian Resources Price Performance

Shares of NYSE:PR opened at $19.83 on Thursday. Permian Resources has a 52 week low of $11.92 and a 52 week high of $22.67. The company has a 50-day moving average price of $19.53 and a 200 day moving average price of $19.17. The company has a market cap of $16.60 billion, a P/E ratio of 23.05 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm’s quarterly revenue was up 55.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Research analysts predict that Permian Resources will post 1.94 earnings per share 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.