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

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

Permian Resources has a dividend payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 3.3%

PR stock opened at $19.83 on Thursday. The company has a market capitalization of $16.60 billion, a PE ratio of 23.05 and a beta of 0.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. Permian Resources has a one year low of $11.92 and a one year high of $22.67. The company’s 50 day moving average price is $19.53 and its two-hundred day moving average price is $19.17.

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