Permian Resources (PR) Stock Overview
An independent oil and natural gas company, focuses on the development of crude oil and associated liquids-rich natural gas reserves in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 2/6 |
| Financial Health | 4/6 |
| Dividends | 3/6 |
PR Community Fair Values
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Analyst Price Targets
Top Community Narratives
US$32
FV
32.8% undervalued intrinsic discount28.05%
Revenue growth p.a.
86
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Permian Resources Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$21.50 |
| 52 Week High | US$22.68 |
| 52 Week Low | US$11.92 |
| Beta | 0.48 |
| 1 Month Change | 6.38% |
| 3 Month Change | 1.32% |
| 1 Year Change | 61.65% |
| 3 Year Change | 63.13% |
| 5 Year Change | 374.61% |
| Change since IPO | 115.00% |
Recent News & Updates
Narrative Update • Aug 13
PR is a low-cost Delaware Basin consolidator offering investors a capital-efficient, growing free cash flow stream with conservative leverag
Permian Resources is the best-in-class low-cost operator in the most productive oil basin in the world, with a decade of high-return drilling inventory, a fortress balance sheet, and a management team that has demonstrated consistent free cash flow growth per share through commodity cycles — the question is whether the market is underpricing the durability of those advantages. Investment Thesis The Delaware Basin cost structure is genuinely differentiated: $5.36/Boe LOE and declining D&C costs ($685/ft in Q1 2026, -6% year-over-year) mean PR generates meaningful free cash flow at oil prices that would impair most peers — this is the core moat and it compounds as lateral lengths extend and operational density increases Management has executed a disciplined consolidation playbook — acquiring more inventory than drilled for three consecutive years, integrating Earthstone at flat per-Boe costs even as production doubled, and consistently deploying capital at trough valuations rather than cycle peaks The balance sheet transformation is nearly complete: from leveraged private equity-backed operator to tri-agency investment grade (Fitch/S&P/Moody's all within 12 months), with debt reduced by ~$1.2B since year-end 2024 and no maturities until 2029 — creating a capital structure that can sustain the dividend and pursue opportunistic M&A through a downcycle A significant embedded catalyst exists in the Waha gas basis resolution: 700+ MMcf/d of Gulf Coast and DFW firm transport capacity coming online in 2027 converts what is currently a meaningful revenue drag (Q2 2026 unhedged gas averaged -$2.40/Mcf) into a structural tailwind, and the market does not appear to be pricing this improvement Risk Considerations Oil price is the dominant earnings driver and cannot be managed away — PR is a price-taker on ~50% of its revenue stream, and a sustained move to $50 WTI or below compresses free cash flow severely regardless of how well the business is run Waha natural gas basis risk is acute in the near term: Q2 2026 unhedged gas averaged -$3.14/Mcf and bottomed at -$9.52/Mcf on a single day, and the hedge book provides only partial coverage until firm transport capacity ramps in 2027 The bolt-on acquisition strategy is accretive when executed at trough valuations but carries integration risk at scale — the Ward County acquisition ($520M, July 2026) and ~$482M of H1 2026 bolt-ons represent the most aggressive deployment pace in the company's history, partially funded with revolver draws Single-basin concentration in the Delaware Basin means there is no geographic diversification against Permian-specific risks: federal land permitting (33% of acreage in New Mexico), water disposal constraints, and regional midstream disruptions all affect PR more acutely than diversified peers
Narrative Update • Aug 13
PR: Higher Margins And Rising Production Will Support Further Upside
Analysts now point to a modestly higher implied fair value for Permian Resources of about $29.39 per share, up from roughly $28.68, citing updated assumptions that combine a slightly higher discount rate, more conservative revenue growth expectations, stronger profit margin forecasts, and a lower future P/E multiple. What’s in the News for Permian Resources Permian Resources reported operating results for the quarter and first half ended June 30, 2026, with disclosed volumes for oil, NGLs and natural gas across both periods.Seeking Alpha • Aug 07
Permian Resources: A Better Operator At A Fair Price
Summary Permian Resources demonstrates premium operator quality with strong Q2 free cash flow, oil production growth, and disciplined bolt-on acquisitions. Q2 adjusted free cash flow surged to $751 million, with oil production up 3% sequentially, while management actively managed Waha gas price risk. PR's balance sheet strengthened, reducing debt by 35% in 2024 and achieving 0.5x leverage, enhancing flexibility for dividends, further deleveraging, or acquisitions. Valuation appears fair at 1.0x NAV, but strong FCF, low leverage, and an acquisition strategy justify a premium multiple, implying a 12% upside to $20.92–$22.66/share. Read the full article on Seeking AlphaRecent updates
Narrative Update • Aug 13
PR is a low-cost Delaware Basin consolidator offering investors a capital-efficient, growing free cash flow stream with conservative leverag
Permian Resources is the best-in-class low-cost operator in the most productive oil basin in the world, with a decade of high-return drilling inventory, a fortress balance sheet, and a management team that has demonstrated consistent free cash flow growth per share through commodity cycles — the question is whether the market is underpricing the durability of those advantages. Investment Thesis The Delaware Basin cost structure is genuinely differentiated: $5.36/Boe LOE and declining D&C costs ($685/ft in Q1 2026, -6% year-over-year) mean PR generates meaningful free cash flow at oil prices that would impair most peers — this is the core moat and it compounds as lateral lengths extend and operational density increases Management has executed a disciplined consolidation playbook — acquiring more inventory than drilled for three consecutive years, integrating Earthstone at flat per-Boe costs even as production doubled, and consistently deploying capital at trough valuations rather than cycle peaks The balance sheet transformation is nearly complete: from leveraged private equity-backed operator to tri-agency investment grade (Fitch/S&P/Moody's all within 12 months), with debt reduced by ~$1.2B since year-end 2024 and no maturities until 2029 — creating a capital structure that can sustain the dividend and pursue opportunistic M&A through a downcycle A significant embedded catalyst exists in the Waha gas basis resolution: 700+ MMcf/d of Gulf Coast and DFW firm transport capacity coming online in 2027 converts what is currently a meaningful revenue drag (Q2 2026 unhedged gas averaged -$2.40/Mcf) into a structural tailwind, and the market does not appear to be pricing this improvement Risk Considerations Oil price is the dominant earnings driver and cannot be managed away — PR is a price-taker on ~50% of its revenue stream, and a sustained move to $50 WTI or below compresses free cash flow severely regardless of how well the business is run Waha natural gas basis risk is acute in the near term: Q2 2026 unhedged gas averaged -$3.14/Mcf and bottomed at -$9.52/Mcf on a single day, and the hedge book provides only partial coverage until firm transport capacity ramps in 2027 The bolt-on acquisition strategy is accretive when executed at trough valuations but carries integration risk at scale — the Ward County acquisition ($520M, July 2026) and ~$482M of H1 2026 bolt-ons represent the most aggressive deployment pace in the company's history, partially funded with revolver draws Single-basin concentration in the Delaware Basin means there is no geographic diversification against Permian-specific risks: federal land permitting (33% of acreage in New Mexico), water disposal constraints, and regional midstream disruptions all affect PR more acutely than diversified peersNarrative Update • Aug 13
PR: Higher Margins And Rising Production Will Support Further Upside
Analysts now point to a modestly higher implied fair value for Permian Resources of about $29.39 per share, up from roughly $28.68, citing updated assumptions that combine a slightly higher discount rate, more conservative revenue growth expectations, stronger profit margin forecasts, and a lower future P/E multiple. What’s in the News for Permian Resources Permian Resources reported operating results for the quarter and first half ended June 30, 2026, with disclosed volumes for oil, NGLs and natural gas across both periods.Seeking Alpha • Aug 07
Permian Resources: A Better Operator At A Fair Price
Summary Permian Resources demonstrates premium operator quality with strong Q2 free cash flow, oil production growth, and disciplined bolt-on acquisitions. Q2 adjusted free cash flow surged to $751 million, with oil production up 3% sequentially, while management actively managed Waha gas price risk. PR's balance sheet strengthened, reducing debt by 35% in 2024 and achieving 0.5x leverage, enhancing flexibility for dividends, further deleveraging, or acquisitions. Valuation appears fair at 1.0x NAV, but strong FCF, low leverage, and an acquisition strategy justify a premium multiple, implying a 12% upside to $20.92–$22.66/share. Read the full article on Seeking Alpha
Narrative Update • Jul 24
PR: Core Permian Assets And Index Inclusion Will Support Future Upside
The analyst price target for Permian Resources has been revised to $25.05 from $25.72 as analysts update their models to reflect refreshed assumptions for revenue growth, profit margins, discount rate, and future price-to-earnings (P/E) expectations. What’s in the News for Permian Resources Morgan Stanley reduced its price target for Permian Resources Corporation from $25 to $24 on June 29 while maintaining an Overweight rating, citing the recent decline in WTI crude oil prices following a memorandum of understanding between Iran and the United States.Narrative Update • Jul 09
PR: Delaware Basin Focus And Free Cash Flow Will Support Further Upside
Analysts have trimmed their price target on Permian Resources to $28.68 from $29.32, citing slightly adjusted assumptions for fair value, long term revenue growth, profit margin and future P/E that collectively point to a marginally more conservative outlook. What’s in the News for Permian Resources Permian Resources posted a strong Q1 2026, with stock appreciation linked to higher oil prices during heightened geopolitical tensions with Iran and to lower operating expenses, according to recent coverage.Narrative Update • Jun 23
PR: Record Free Cash Flow And Stronger Balance Sheet Will Support Upside
Analysts have raised their price target for Permian Resources from $23.90 to $25.72, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E multiples. What’s in the News for Permian Resources Permian Resources reported record free cash flow in Q1 2026, supported by operational efficiencies, production outperformance, and disciplined cost management.
Narrative Update • Jun 07
PR: Record Free Cash Flow And Dividend Policy Will Support Richer Future Multiple
Analysts have raised their price target for Permian Resources from $19.00 to about $22.26, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple in their models. What's in the News Permian Resources reported record free cash flow and production for Q1 2026, supported by operational efficiencies, cost discipline, and better-than-forecast well results.Narrative Update • May 23
PR: Higher Oil Output And Dividend Growth Will Support Further Upside
Analysts have reduced their average price target for Permian Resources to about $29.32 per share from roughly $29.37, citing updated assumptions that reflect slightly different views on revenue growth, profit margins and future P/E levels. What's in the News Reported first quarter 2026 production results, with net oil production of 17,311 MBbls, natural gas production of 63,268 MMcf, NGL production of 9,300 MBbls and net total production of 37,156 MBoe (Announcement of Operating Results).Analysis Article • May 15
Permian Resources' (NYSE:PR) Soft Earnings Don't Show The Whole Picture
The most recent earnings report from Permian Resources Corporation ( NYSE:PR ) was disappointing for shareholders...Narrative Update • May 07
PR: Higher Oil Output And Rising Dividend Will Support Further Upside
Analysts now see a slightly higher fair value for Permian Resources, lifting the implied target from about $29.00 to roughly $29.37. This reflects updated assumptions around discount rate, revenue growth, profit margins and future P/E multiples.Narrative Update • Apr 22
PR: Higher Production Outlook And Rising Payout Will Support Further Upside
Analysts have raised their fair value estimate for Permian Resources from $21.00 to $29.00, citing updated assumptions about revenue growth, a slightly higher profit margin profile, and a higher future P/E multiple. What's in the News Permian Resources reported fourth quarter 2025 total net production of 36,935 MBoe, with average daily net production of 401,475 Boe/d, including 188,633 Bbls/d of oil, 102,131 Bbls/d of NGL, and 664,265 Mcf/d of natural gas (Key Developments).Narrative Update • Apr 07
PR: Higher 2026 Production Outlook And Dividend Increase Will Support Upside
Analysts have raised their price target on Permian Resources from approximately $18.05 to $23.90, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E. They view these assumptions as more supportive of a higher valuation range for the stock.New Narrative • Mar 27
PR is a low-cost Delaware Basin consolidator offering investors a capital-efficient, growing free cash flow stream with conservative leverag
Investment Thesis Best-in-class Delaware Basin LOE ($5.26/Boe) and rapidly declining D&C costs (~$700/ft) create a cost-of-production moat against higher-cost peers Deep drilling inventory (1.1B total proved Boe; 322K MBoe PUD) with 10+ year runway acquired below market in cyclical downturns Conservative balance sheet (0.8x Net Debt/EBITDAX) and investment grade credit rating provide optionality through commodity cycles “All of the above” capital allocation — growing base dividend, bolt-on M&A, debt reduction, buybacks — executed by a management team with meaningful insider ownership (>6%) 2026 plan targets ~5% production growth at 6% lower capex, implying continued FCF/share expansion even in a flat or slightly declining price environment Risk Considerations Entire model leveraged to WTI price; at $55 WTI, free cash flow contracts dramatically and the investment thesis narrows materially Single-basin concentration (100% Permian) amplifies exposure to Waha natural gas basis blowouts, regional water disposal constraints, and New Mexico federal land policy risk Debt load (~$3.4B) carries coupon costs of 6–10% across various maturities through 2033; higher-for-longer rates reduce refinancing optionality M&A strategy relies on continued availability of attractively priced bolt-on targets — competition from better-capitalized peers (Diamondback, ExxonMobil) may compress future deal economics No pricing power whatsoever — oil is a commodity; any structural shift in global demand (EV adoption, demand destruction) directly impairs terminal value of proved reservesNarrative Update • Mar 24
PR: Higher Margins And Dividend Support Will Balance Richer Future Multiple
Analysts now frame Permian Resources’ fair value at $19.00 per share, up from $17.00. This reflects updated assumptions that pair a lower projected revenue growth rate with slightly higher expected profit margins and a richer future P/E multiple.Narrative Update • Mar 10
PR: Rich Multiple And Lower Margin Assumptions Will Limit Future Upside
Analysts have raised their price target on Permian Resources from $14.95 to $17.00, citing updated assumptions around revenue growth, profit margins and future P/E that feed into their refreshed fair value and discount rate inputs. What's in the News Issued 2026 production guidance with expected net average daily output of 400,000 Boe/d to 430,000 Boe/d and net average daily oil production of 186,000 Bbls/d to 192,000 Bbls/d (Corporate guidance) Declared a quarterly base cash dividend of $0.16 per share of Class A common stock, a 7% increase from $0.15 per share previously.Narrative Update • Feb 24
PR: Stable Assumptions And Modest Margin Uplift Will Support Further Upside
Analysts have maintained their $21.00 price target for Permian Resources, citing relatively unchanged fair value and discount rate assumptions, along with slight adjustments to revenue growth, profit margin, and future P/E inputs. Valuation Changes Fair Value: Model fair value remains unchanged at $21.00 per share, indicating no revision to the central valuation anchor.Narrative Update • Feb 10
PR: Higher Future P/E Multiple Will Support Upside Potential
Analysts have maintained their fair value estimate for Permian Resources at $21.00. Modest adjustments to assumptions around the discount rate, revenue growth, profit margin, and future P/E reflect updated views on the company’s risk profile and earnings potential, without materially changing their price target outlook.Narrative Update • Jan 25
PR: Rising Production And Ongoing Buybacks Will Support Future Upside
Analysts now see fair value for Permian Resources at about $21.00, down from roughly $22.26. This reflects updates to revenue growth, profit margin and future P/E assumptions in their models.Narrative Update • Jan 11
PR: Higher Production Guidance And Buybacks Will Support Steady Future Performance
Analysts have raised their price target on Permian Resources to $14.95 from $14.48, citing updated assumptions that include slightly higher fair value, a lower discount rate, expectations for faster revenue growth, moderately stronger profit margins, and a higher future P/E multiple. What's in the News Reported third quarter 2025 net oil production of 17,198 MBbls, natural gas production of 64,841 MMcf, NGLs production of 9,736 MBbls, and net total production of 37,741 MBoe, with average daily net production of 410,225 Boe/d (company results).Narrative Update • Dec 14
PR: Strong Production Momentum And Buybacks Will Drive Shares Higher
Analysts have nudged their price target on Permian Resources slightly higher, from approximately $22.00 to $22.26 per share, citing updated assumptions that include a lower discount rate and higher future valuation multiples, despite moderating growth and margin forecasts. What's in the News Reported strong third quarter 2025 operating results, with net total production rising to 37,741 MBoe from 31,932 MBoe a year earlier and average daily output increasing to 410,225 Boe/d from 347,091 Boe/d, driven by higher oil, gas and NGL volumes (company announcement of operating results).Analysis Article • Nov 13
Permian Resources' (NYSE:PR) Conservative Accounting Might Explain Soft Earnings
The market was pleased with the recent earnings report from Permian Resources Corporation ( NYSE:PR ), despite the...Narrative Update • Nov 03
PR: Record Production Gains And Share Buybacks Will Drive Future Upside
Permian Resources' analyst price target has been updated slightly downwards, decreasing from $18.19 to $18.05 per share as analysts weigh modest adjustments in anticipated revenue growth and discount rates against improved profit margin forecasts. What's in the News Permian Resources completed a follow-on equity offering of 46,112,899 shares of Class A common stock and raised approximately $623.9 million (Company filing).Narrative Update • Oct 20
Gulf Coast Agreements And US Legislation Will Unlock Future Value
Analysts have revised their price target for Permian Resources downward from $18.55 to $18.19 per share, citing more conservative expectations for growth and profitability in updated financial models. What's in the News Permian Resources completed a follow-on equity offering of 46,112,899 Class A Common Stock, raising approximately $624 million at $13.53 per share (Key Developments).Narrative Update • Sep 04
Gulf Coast Agreements And US Legislation Will Unlock Future Value
Permian Resources’ future P/E multiple has declined notably from 12.55x to 11.01x while revenue growth expectations remain stable at 6.1%, resulting in an unchanged consensus analyst price target of $18.63. What's in the News Repurchased 4,120,240 shares (0.58% of outstanding) for $43.34 million, completing the planned buyback.Analysis Article • Sep 03
Permian Resources Corporation's (NYSE:PR) Business And Shares Still Trailing The Market
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") above 20x, you may...Seeking Alpha • Apr 08
Permian Resources: A Cheap Texas Energy Stock With Solid Fundamentals
Summary Permian Resources gets a buy rating today, in line with the bullish consensus. Strong points are the profit margin, Fitch upgrade in 2024, low debt/equity, and new business acquisitions last year to drive growth. Dividend investors may like the yield above 6%. The majority of the firm's reserves are developed and proven, and diversified across both oil and natural gas too. The ongoing risk of oil price volatility, and uncertainty of future OPEC decisions, can impact this entire sector and is an ongoing risk. Read the full article on Seeking AlphaSeeking Alpha • Mar 05
Permian Resources Stock Craters: Why And How I'm Buying
Summary Shares of Delaware Basin-focused oil and gas company Permian Resources Corporation plunged amid a resurgence of tariff fears and weak economic indicators. In this update on PR stock, I'm going to take a step back and look at the company's business from a neutral and unemotional perspective. I will review Permian's operations in 2024 and 2025 guidance, explaining why I am confident in building a position, despite an arguably challenging environment. I share my approach of gradually building a position in PR stock over the coming months, generating a little extra income in the process and taking emotion out of the equation. Read the full article on Seeking AlphaShareholder Returns
| PR | US Oil and Gas | US Market | |
|---|---|---|---|
| 7D | 1.3% | 6.8% | 0.6% |
| 1Y | 61.7% | 39.0% | 20.1% |
Return vs Industry: PR exceeded the US Oil and Gas industry which returned 39% over the past year.
Return vs Market: PR exceeded the US Market which returned 20.1% over the past year.
Price Volatility
| PR volatility | |
|---|---|
| PR Average Weekly Movement | 5.0% |
| Oil and Gas Industry Average Movement | 6.0% |
| Market Average Movement | 7.1% |
| 10% most volatile stocks in US Market | 16.3% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: PR has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: PR's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2015 | 515 | Will Hickey | www.permianres.com |
Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and associated liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in Reeves County in West Texas and Lea County in New Mexico.
Permian Resources Corporation Fundamentals Summary
| PR fundamental statistics | |
|---|---|
| Market cap | US$18.01b |
| Earnings (TTM) | US$1.23b |
| Revenue (TTM) | US$5.74b |
14.6x
P/E Ratio3.1x
P/S RatioIs PR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PR income statement (TTM) | |
|---|---|
| Revenue | US$5.74b |
| Cost of Revenue | US$1.39b |
| Gross Profit | US$4.35b |
| Other Expenses | US$3.12b |
| Earnings | US$1.23b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.47 |
| Gross Margin | 75.85% |
| Net Profit Margin | 21.52% |
| Debt/Equity Ratio | 24.9% |
How did PR perform over the long term?
See historical performance and comparisonDividends
3.0%
Current Dividend Yield39%
Payout RatioDoes PR pay a reliable dividends?
See PR dividend history and benchmarks| Permian Resources dividend dates | |
|---|---|
| Ex Dividend Date | Sep 16 2026 |
| Dividend Pay Date | Sep 30 2026 |
| Days until Ex dividend | 30 days |
| Days until Dividend pay date | 44 days |
Does PR pay a reliable dividends?
See PR dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/17 05:08 |
| End of Day Share Price | 2026/08/14 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Permian Resources Corporation is covered by 42 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Subhasish Chandra | Benchmark Company |
| Randy Ollenberger | BMO Capital Markets Equity Research |
| Phillip Jungwirth | BMO Capital Markets Equity Research |