Permian Resources Announces Strong Third Quarter 2024 Results and Increased Full Year Guidance
Permian Resources Corporation (PR)
Company Research
Source: Business Wire
MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its third quarter 2024 financial and operational results and revised 2024 guidance.Recent Financial and Operational HighlightsReported crude oil and total average production of 160.8 MBbls/d and 347.1 MBoe/d during the quarterAnnounced cash capital expenditures of $520 million, cash provided by operating activities of $954 million and adjusted free cash flow1 of $303 millionContinue to drive operational efficiencies, resulting in reduced cycle times and lower well costsReduced D&C costs to ~$800 per lateral foot, which represents a 16% decrease from 2023Announced quarterly base dividend of $0.15 per share, a 150% increase compared to the prior quarterRepresents initial base dividend under the Company's updated return of capital strategyMaintained strong balance sheet with leverage of ~1x and ~$2.8 billion of total liquidityEnded quarter with undrawn revo
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News
- Permian Resources Co. (NYSE: PR) had its price target raised by analysts at Piper Sandler from $20.00 to $21.00. They now have an "overweight" rating on the stock.MarketBeat
- Permian Resources (NYSE:PR) Could Be A Buy For Its Upcoming Dividend [Yahoo! Finance]Yahoo! Finance
- Decoding Permian Resources Corp (PR): A Strategic SWOT Insight [Yahoo! Finance]Yahoo! Finance
- Permian Resources Co. (NYSE: PR) had its price target raised by analysts at Truist Financial Co. from $18.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
- US Permian Basin Shale Report 2024: Oil and Gas Shale Market Analysis and Outlook to 2028 [Yahoo! Finance]Yahoo! Finance
PR
Earnings
- 11/6/24 - In-Line
PR
Sec Filings
- 11/8/24 - Form SC
- 11/7/24 - Form 10-Q
- 11/6/24 - Form 8-K
- PR's page on the SEC website