Permian ResourcesNYSE: PR

Permian Resources Corporation has shown strong operational and financial performance despite negative regional natural gas prices, with a secure over four percent dividend yield and recent insider buying signaling confidence. The company's strategic acquisitions have significantly boosted production, making it a cost leader in the Permian Basin with substantial reserves and efficient operations. Recent declines in oil prices and negative natural gas prices at the Waha Hub have impacted the stock, but easing gas constraints and hedging provide some stability.

The U.S. oil and gas exploration and production industry has faced headwinds related to falling natural gas prices and political uncertainty so far in 2024. Cash from operations across three dozen leading U.S. firms fell in real terms from the first quarter of 2023 to the first quarter of this year due to lower gas prices.

Permian Resources Corporation's recent acquisitions enhance profitability. Management's “Grassroots Acquisitions” strategy secures discounted small acreage, enabling more profitable, longer wells by combining with existing company acreage. These “Grassroots Acquisitions” acquisitions increase contiguous acreage value.

Permian Resources (PR) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.27 per share a year ago.

Permian Resources (PR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Shares of Permian Resources Corp PR were climbing in early trading on Wednesday.

Permian increased its 2024 production guidance by 2%. It has been seeing strong well results as well as reduced downtime from Earthstone's assets. The integration of Earthstone has gone well, and it now expects another $50 million per year in synergies above its original $175 million target.

MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announces today that, in connection with its post-merger integration of Earthstone Energy Inc. (Earthstone) and its subsidiaries, it has completed the liquidation of Lynden Energy Corp. (Lynden), a corporation organized under the laws of British Columbia, and as a result it has applied to the British Columbia Securities Commission (BCSC), as principal regulator, and the Ontario Secur.

Permian Resources (PR) is experiencing positive changes in earnings estimates and has a favorable Zacks Earnings ESP as we enter earnings season.