On September 19, 2023, Permian Resources Corporation made an exciting announcement regarding a secondary public offering. Certain affiliates of NGP Energy Capital Management L.L.C will be offering a total of 20,300,000 shares of its Class A Common Stock, with a par value of $0.0001 per share. It’s important to note that Permian Resources Corporation itself will not be selling any shares in this offering and will not receive any proceeds from it.
To make this offering even more enticing, the Selling Stockholders plan to grant the underwriters a 30-day option to purchase an additional 3,045,000 shares of Class A common stock at the public offering price, after deducting the underwriting discounts and commissions. This option provides potential for further investment opportunities.
It’s worth mentioning that the offering of Class A common stock is not dependent on the completion of the Concurrent OpCo Unit Purchase. However, the Concurrent OpCo Unit Purchase is contingent upon the completion of the offering. This ensures that both transactions are aligned and completed successfully.
To further enhance this transaction, Permian Resources Corporation intends to purchase an aggregate of 2,200,000 common units from the Selling Stockholders. These units represent limited liability company interests in Permian Resources Operating, LLC, a subsidiary of Permian Resources. The purchase price per OpCo Unit will be equal to the price per share at which the underwriters purchase shares of Class A common stock in the offering. Additionally, Permian Resources Corporation will cancel a corresponding number of shares of its Class C Common Stock, which are currently held by the Selling Stockholders.
To ensure the success of this offering, J.P. Morgan, BofA Securities, and Truist Securities have been appointed as joint book-running managers. Their expertise and guidance will be invaluable throughout the process, ensuring a smooth and efficient transaction.
Overall, Permian Resources Corporation’s secondary public offering presents a unique opportunity for investors to participate in the growth and success of the company. With the support of reputable book-running managers and the potential for additional share purchases, this offering is poised to be a significant milestone for Permian Resources Corporation.
Permian Resources Corporation
Updated on: 29/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Buy
DCF: Strong Buy
8:00 AM (UTC)
Date:02 September, 2022
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PR Stock: Mixed Performance on September 19, 2023, but Strong Growth in Earnings and Revenue
PR stock, also known as Magnolia Oil & Gas Corporation, had a mixed performance on September 19, 2023. The stock opened at $13.73, slightly higher than the previous day’s closing price of $13.55. Throughout the day, the stock fluctuated within a range of $13.29 to $13.79. The trading volume was 6,750,125, below the average volume of 7,774,916 over the past three months.
Despite the volatility in the stock’s performance for the day, PR stock has shown strong growth in its earnings and revenue over the past year. The earnings growth for the previous year was an impressive +265.81%, indicating the company’s ability to generate higher profits. However, the earnings growth for this year has decreased by -9.06%, which could be a cause for concern for investors.
Looking ahead, the company is expected to have a modest earnings growth of +6.00% over the next five years. This indicates that the company’s growth may slow down slightly compared to the previous year. However, the revenue growth for the last year was +106.94%, suggesting that the company has been successful in increasing its sales.
In terms of valuation, PR stock has a P/E ratio of 9.0, which indicates that investors are willing to pay $9 for every $1 of earnings. The price/sales ratio is 1.42, suggesting that the stock is valued at 1.42 times its annual sales. The price/book ratio is 1.35, indicating that the stock is valued at 1.35 times its book value.
Magnolia Oil & Gas Corporation operates in the energy minerals sector, specifically in the integrated oil industry. The company is headquartered in Midland, Texas, but there are no executives listed for the company.
Overall, PR stock had a mixed performance on September 19, 2023. While the stock opened slightly higher than the previous day’s close, it experienced volatility throughout the day. However, the company has shown strong growth in its earnings and revenue over the past year, indicating its potential for future success. Investors should closely monitor the company’s future earnings growth and revenue performance to make informed investment decisions.
Permian Resources Corp (PR) Stock Shows Positive Performance and Potential Growth, Analysts Suggest Buying
Permian Resources Corp (PR) stock had a positive performance on September 19, 2023, based on the information provided by CNN Money. The 17 analysts offering 12-month price forecasts for PR have a median target of $17.00, with a high estimate of $20.00 and a low estimate of $13.00. The median estimate represents a 26.68% increase from the last price of $13.42.
The current consensus among 18 polled investment analysts is to buy stock in Permian Resources Corp. This rating has held steady since September, when it was unchanged from a buy rating.
PR reported earnings per share of $0.40 for the current quarter, with sales amounting to $725.8 million. The reporting date for these results is November 1.
Based on the information provided, it is evident that PR stock is performing well. The median target price of $17.00 suggests a potential increase of 26.68% from the last price, indicating optimism among analysts. Furthermore, the consensus rating to buy the stock reinforces this positive sentiment.
Investors should take note of the upcoming earnings report on November 1, as it may provide further insights into the company’s financial performance. It is advisable to closely monitor PR stock and consider the analysts’ recommendations before making any investment decisions.
Overall, PR stock’s performance on September 19, 2023, indicates positive sentiment among analysts and potential growth in the future.