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

Permian Resources Corporation (NYSE:PR) announced a quarterly dividend on Wednesday, May 6th. Stockholders 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 dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 16th.

Permian Resources has a dividend payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 5.4%

NYSE:PR opened at $21.20 on Thursday. Permian Resources has a one year low of $11.64 and a one year high of $22.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $17.73 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.26 and a beta of 0.52. The firm has a 50-day simple moving average of $20.07 and a 200-day simple moving average of $16.43.

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

Permian Resources Company Profile

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.