Permian Resources Corporation (PR) to Issue Quarterly Dividend of $0.16 on December 31st

Permian Resources Corporation (NYSE:PR) announced a quarterly dividend on Wednesday, November 4th. Investors 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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, December 17th.

Permian Resources has a dividend payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Research 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 4.8%

Shares of Permian Resources stock opened at $21.36 on Friday. The firm’s 50 day moving average is $23.39 and its 200 day moving average is $20.50. The firm has a market capitalization of $17.89 billion, a PE ratio of 11.12 and a beta of 0.62. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.25. Permian Resources has a 1 year low of $12.32 and a 1 year high of $26.07.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Permian Resources had a return on equity of 15.79% and a net margin of 25.04%. Permian Resources’s revenue was up 48.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. Equities research analysts forecast that Permian Resources will post 2.46 earnings per share for the current fiscal year.

About Permian Resources

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.