Have you been paying attention to shares of Permian Resources (PR - Free Report) ? Shares have been on the move with the stock up 12.9% over the past month. The stock hit a new 52-week high of $24.92 in the previous session. Permian Resources has gained 76.8% since the start of the year compared to the 40.5% move for the Zacks Oils-Energy sector and the 35.4% return for the Zacks Oil and Gas - Exploration and Production - United States industry.
What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on August 5, 2026, Permian Resources reported EPS of $0.69 versus consensus estimate of $0.56.
For the current fiscal year, Permian Resources is expected to post earnings of $2.37 per share on $6.84 in revenues. This represents a 65.73% change in EPS on a 35.12% change in revenues. For the next fiscal year, the company is expected to earn $2.54 per share on $7.05 in revenues. This represents a year-over-year change of 7.4% and 3.04%, respectively.
Valuation MetricsThough Permian Resources has recently hit a 52-week high, what is next for Permian Resources? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
Permian Resources has a Value Score of C. The stock's Growth and Momentum Scores are B and B, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 10.5X current fiscal year EPS estimates, which is a premium to the peer industry average of 9.6X. On a trailing cash flow basis, the stock currently trades at 6.4X versus its peer group's average of 5.2X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, Permian Resources currently has a Zacks Rank of #1 (Strong Buy) thanks to a solid earnings estimate revision trend.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Permian Resources meets the list of requirements. Thus, it seems as though Permian Resources shares could have potential in the weeks and months to come.
How Does PR Stack Up to the Competition?Shares of PR have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Northern Oil and Gas, Inc. (NOG - Free Report) . NOG has a Zacks Rank of #2 (Buy) and a Value Score of A, a Growth Score of D, and a Momentum Score of A.
Earnings were strong last quarter. Northern Oil and Gas, Inc. beat our consensus estimate by 10.78%, and for the current fiscal year, NOG is expected to post earnings of $3.82 per share on revenue of $2.37 billion.
Shares of Northern Oil and Gas, Inc. have gained 16.7% over the past month, and currently trade at a forward P/E of 7.27X and a P/CF of 2.12X.
The Oil and Gas - Exploration and Production - United States industry is in the top 14% of all the industries we have in our universe, so it looks like there are some nice tailwinds for PR and NOG, even beyond their own solid fundamental situation.
Perpetual Ltd. ve třetím čtvrtletí roku snížila svůj podíl v Permian Resources o 7 % prodejem 92 914 akcií; nadále drží 1 231 631 akcií v hodnotě 26 012 000 USD.
Perpetual Ltd lessened its stake in Permian Resources Corporation (NYSE:PR – Free Report) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,231,631 shares of the company’s stock after selling 92,914 shares during the period. Perpetual Ltd owned about 0.15% of Permian Resources worth $26,012,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Permian Resources by 3.9% in the 2nd quarter. Wellington Management Group LLP now owns 20,156,113 shares of the company’s stock worth $371,074,000 after purchasing an additional 763,059 shares during the period. Jennison Associates LLC boosted its stake in shares of Permian Resources by 63.1% during the first quarter. Jennison Associates LLC now owns 6,230,034 shares of the company’s stock valued at $132,824,000 after purchasing an additional 2,411,292 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Permian Resources during the first quarter valued at approximately $121,041,000. First Trust Advisors LP boosted its stake in shares of Permian Resources by 66.6% during the first quarter. First Trust Advisors LP now owns 5,564,528 shares of the company’s stock valued at $118,636,000 after purchasing an additional 2,224,560 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Permian Resources by 1.8% in the first quarter. Principal Financial Group Inc. now owns 4,733,183 shares of the company’s stock worth $100,911,000 after purchasing an additional 85,509 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.
Permian Resources Stock Up 1.6% Shares of NYSE:PR opened at $23.39 on Tuesday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $24.65. The company has a market cap of $19.59 billion, a PE ratio of 15.49 and a beta of 0.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50-day moving average is $22.47 and its 200 day moving average is $20.90.
Permian Resources (NYSE:PR – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company posted $0.28 EPS. Permian Resources’s quarterly revenue was up 55.1% compared to the same quarter last year. Sell-side analysts anticipate that Permian Resources Corporation will post 2.28 EPS for the current year. Permian Resources Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.64 annualized dividend and a dividend yield of 2.7%. Permian Resources’s payout ratio is 42.38%.
Insider Activity at Permian Resources In related news, EVP Robert Shannon sold 5,104 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total transaction of $121,220.00. Following the completion of the transaction, the executive vice president owned 1,346,698 shares in the company, valued at $31,984,077.50. This represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Guy Oliphint sold 5,103 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,196.25. Following the completion of the sale, the executive vice president directly owned 537,400 shares of the company’s stock, valued at $12,763,250. The trade was a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,699 shares of company stock worth $372,851 over the last quarter. 5.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades Several research analysts recently commented on PR shares. UBS Group lifted their target price on shares of Permian Resources from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, September 14th. KeyCorp upped their price target on shares of Permian Resources from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, September 15th. Mizuho raised shares of Permian Resources to a “strong-buy” rating in a research report on Friday, July 31st. Zacks Research raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Wall Street Zen raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Six investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.28.
Get Our Latest Stock Analysis on Permian Resources
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Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Its operations are concentrated in the Delaware Basin, a major portion of the broader Permian Basin in West Texas and southeastern New Mexico.
The company develops its properties primarily through horizontal drilling and hydraulic fracturing. Its activities include identifying and acquiring acreage, drilling and completing wells, producing hydrocarbons, and managing related gathering and infrastructure operations.
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A month has gone by since the last earnings report for Permian Resources (PR - Free Report) . Shares have added about 17.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Permian Resources due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Permian Resources Corporation before we dive into how investors and analysts have reacted as of late.
Permian Resources Beats Q2 Earnings on Strong Price RealizationsPermian Resources reported second-quarter 2026 adjusted earnings of 69 cents per share, beating the Zacks Consensus Estimate of 56 cents by 23.2%. The bottom line also increased significantly from the year-ago quarter’s adjusted earnings of 27 cents. This outperformance was primarily driven by higher oil and NGL price realizations.
The company’s oil and gas sales of $1.86 billion beat the Zacks Consensus Estimate of $1.64 billion by 13.3%. Revenues also increased from the year-ago quarter’s $1.2 billion, aided by a higher year-over-year contribution from oil sales, NGL sales and purchased gas sales during the quarter.
On Aug. 5, 2026, the Midland, TX-based exploration and production company declared a quarterly base dividend of 16 cents per Class A common share, translating to an annualized dividend of 64 cents. The payout is scheduled for Sept. 30 for its shareholders on record as of Sept. 16.
Q2 Production DetailsPermian Resources reported total average production of 376.4 thousand barrels of oil equivalent per day (MBoe/d), comprising 53% oil and 76% liquids, in the second quarter, down from 385.1 MBoe/d in the year-ago period. The figure missed the Zacks Consensus Estimate of 395,272 Boe/d.
Crude oil production averaged 198.1 thousand barrels per day (MBbls/d), up from 176.5 MBbls/d in the prior-year quarter. The figure beat the Zacks Consensus Estimate of 194.8 MBbls/d. Oil production increased, driven primarily by successful ground-game initiatives, which boosted the average working interest in second-quarter completions by 7% above the company’s initial expectations. Production also benefited from a more than 50% quarter-over-quarter increase in high-return workover projects.
NGL production came in at 86.2 MBbls/d, down 11.9% year over year. It also missed the Zacks Consensus Estimate by 11.2%. Meanwhile, natural gas production totaled 552.9 million cubic feet per day (MMcf/d), down 16.8% year over year, and missed the Zacks Consensus Estimate by 11.1%.
Price RealizationsPermian Resources’ average realized oil price was $97.81 per barrel in the second quarter, compared with $62.71 in the year-ago quarter. The figure beat the consensus mark of $94 per barrel.
The realized NGL price was $23.28 per barrel, up from $17.75 a year ago, and beat the consensus mark of $22.16 per barrel. The company’s realized natural gas price was negative $2.40 per Mcf, in contrast to a positive 50 cents in the prior-year quarter. The consensus mark for the same was pegged at a negative of $2.41 per Mcf. Including hedges and purchased gas sales, the realized natural gas price was 38 cents per Mcf, compared with 76 cents a year ago.
Costs & ExpensesTotal operating expenses in the quarter rose to $929.9 million from $900.1 million in the year-ago quarter. Lease operating expenses totaled $189.9 million, up from $187.9 million in the year-ago quarter. Severance and ad valorem taxes rose to $143.7 million from $94.9 million a year earlier and the Exploration and other expenses also rose to $9.8 million from $5.1 million in the year-ago quarter. On a per-unit basis, Lease operating expenses increased to $5.55 per Boe from $5.36 a year ago.
Financial PositionPR generated $1.5 billion of net cash provided by operating activities in the second quarter, compared with $1 billion in the year-ago quarter. Adjusted operating cash flow totaled $1.3 billion, while adjusted free cash flow came in at $750.7 million.
Cash capital expenditures were $521.4 million, up from the prior-year period’s capital expenditures of $505 million. The company’s capital-efficient operating model supported strong free cash flow generation despite continued investment in development and bolt-on acquisitions.
As of June 30, 2026, PR had $131.7 million in cash and cash equivalents. The company had a long-term debt of approximately $3 billion, reflecting a debt-to-capitalization of 20%.
2026 GuidancePermian Resources raised its 2026 oil production target to 199 MBbls/d, up 10 MBbls/d from its initial February outlook. The increase reflects higher ownership in wells, more workover activity and production from the Ward County acquisition. The company expects full-year working interest above 80% and second-half oil production above 200 MBbls/d. Cash capital spending guidance was increased to $1.9-$2 billion, including about $25 million for Ward County. Full-year guidance calls for total production of 400,000-430,000 Boe/d and oil production of 197,000-201,000 Bbls/d. Controllable cash costs are projected at $7.15-$8.15 per Boe, with the updated plan still focused on cost control and capital efficiency.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
The consensus estimate has shifted 24.77% due to these changes.
VGM ScoresCurrently, Permian Resources has a strong Growth Score of A, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Permian Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerPermian Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Devon Energy (DVN - Free Report) , a stock from the same industry, has gained 13.2%. The company reported its results for the quarter ended June 2026 more than a month ago.
Devon Energy reported revenues of $7.42 billion in the last reported quarter, representing a year-over-year change of +73.1%. EPS of $1.57 for the same period compares with $0.84 a year ago.
For the current quarter, Devon Energy is expected to post earnings of $1.20 per share, indicating a change of +15.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +10.4% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Devon Energy. Also, the stock has a VGM Score of A.
Permian Resources zvýšila výhled těžby ropy pro rok 2026 na 197 000 až 201 000 barelů denně a zároveň navýšila kapitálové výdaje na 1,9 až 2 miliardy USD. Ve druhé polovině roku očekává produkci nad 200 000 barelů denně.
Key Takeaways Permian Resources raised 2026 oil guidance to 197,000-201,000 barrels per day on higher working interest.PR lifted capital-spending guidance to $1.9-$2 billion to support higher activity and Ward County production.PR expects second-half oil output above 200,000 barrels per day while Waha gas constraints remain a risk. Permian Resources Corporation (PR - Free Report) raised its 2026 oil-production target after second-quarter adjusted earnings of 69 cents per share topped the Zacks Consensus Estimate of 56 cents. Oil and gas sales of $1.86 billion also exceeded the $1.64 billion consensus mark.
The higher outlook shifts attention to execution. More working interest, workovers and acquired production can lift volumes, but higher spending makes capital efficiency a central second-half test.
PR's Oil Target Rises With Higher Working InterestPR lifted the midpoint of full-year oil guidance to 199,000 barrels per day, 10,000 barrels per day above its initial February target. The company now expects 197,000-201,000 barrels per day for 2026.
Image Source: Permian Resources Corporation
Higher working interest from ground-game activity, increased workovers and Ward County production are the main drivers. Average full-year working interest is expected to exceed 80%, while first-half acquisitions carried no existing production.
Permian Resources Spends More to Support the LiftCash capital-expenditure guidance increased to $1.9-$2 billion, including about $25 million tied to Ward County. The higher budget reflects greater working interest and takeover capital for the bolt-on acquisition.
Image Source: Permian Resources Corporation
PR is using longer laterals, record recycled-water volumes, water-based mud and slimmer-hole designs to limit development intensity. Those gains largely offset higher diesel costs in the second quarter, although rising casing costs could test progress. Diamondback Energy, Inc. (FANG - Free Report) , another Permian-focused producer, offers a regional comparison for development efficiency.
PR's Second-Half Output Sets a Higher BarPR expects second-half oil production to exceed 200,000 barrels per day. Its full-year plan also calls for approximately 250 gross operated wells turned in line, raising the execution burden through year-end.
Average lateral length is expected to be about 11,000 feet, and PR drilled its first four-mile lateral in the second quarter. Matador Resources Company (MTDR - Free Report) , focused primarily on the Delaware Basin's Wolfcamp and Bone Spring plays, provides another regional benchmark for development execution.
Permian Resources' Q2 Cash Flow Supports the PlanSecond-quarter adjusted free cash flow reached $750.7 million, while adjusted operating cash flow totaled $1.3 billion. Cash capital expenditures were $521.4 million.
PR ended June with $131.7 million of cash and cash equivalents and about $3 billion of long-term debt. Leverage was about 0.5x at quarter-end, providing flexibility as the company funds acquisitions and the higher activity plan.
Image Source: Permian Resources Corporation
PR's Waha Exposure Could Complicate GrowthWaha natural gas prices averaged negative $3.14 per thousand cubic feet in the second quarter. PR curtailed wells with high gas-to-oil ratios, reducing natural gas production about 20% sequentially, while transportation and hedging lifted realized gas pricing to 38 cents per thousand cubic feet.
More than 700 million cubic feet per day of firm transport to Gulf Coast and Dallas-Fort Worth markets is expected in 2027. Until that capacity is fully available, renewed regional takeaway pressure could weaken realizations or force additional curtailments.
PR's Hold Signal Tempers the Guidance BoostThe raised oil target has identifiable operational support, but its investment value depends on converting higher activity into production without allowing service-cost inflation or gas constraints to erode capital efficiency.
PR currently carries a Zacks Rank #3 (Hold), so it lacks the stronger near-term signal associated with Zacks Rank #1 or #2 stocks. Its VGM Score of A, Growth Score of A, Momentum Score of A and Value Score of B are favorable style grades, but the Style Scores complement the Zacks Rank rather than override it. The combination supports a measured view rather than an unqualified bullish call.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Permian Resources ve 2. čtvrtletí 2026 vykázala upravený zisk na akcii 69 centů a tržby z ropy a plynu 1,86 miliardy USD, obojí nad odhady. Zároveň zvýšila výhled těžby ropy pro rok 2026 na 199 MBbls/d.
Key Takeaways Permian Resources beat Q2 earnings estimates as higher oil and NGL prices boosted results.Oil production rose 12.2% year over year as ground game and workover activity lifted output.Permian Resources raised 2026 oil guidance to 199 MBbls/d and capital spending to $1.9-$2 billion. Permian Resources Corporation (PR - Free Report) reported second-quarter 2026 adjusted earnings of 69 cents per share, beating the Zacks Consensus Estimate of 56 cents by 23.2%. The bottom line also increased significantly from the year-ago quarter’s adjusted earnings of 27 cents. This outperformance was primarily driven by higher oil and NGL price realizations.
The company’s oil and gas sales of $1.86 billion beat the Zacks Consensus Estimate of $1.64 billion by 13.3%. Revenues also increased from the year-ago quarter’s $1.2 billion, aided by a higher year-over-year contribution from oil sales, NGL sales and purchased gas sales during the quarter.
On Aug. 5, 2026, the Midland, TX-based exploration and production company declared a quarterly base dividend of 16 cents per Class A common share, translating to an annualized dividend of 64 cents. The payout is scheduled for Sept. 30 for its shareholders on record as of Sept. 16.
PR’s Q2 Production DetailsPermian Resources reported total average production of 376.4 thousand barrels of oil equivalent per day (MBoe/d), comprising 53% oil and 76% liquids, in the second quarter, down from 385.1 MBoe/d in the year-ago period. The figure missed the Zacks Consensus Estimate of 395,272 Boe/d.
Crude oil production averaged 198.1 thousand barrels per day (MBbls/d), up from 176.5 MBbls/d in the prior-year quarter. The figure beat the Zacks Consensus Estimate of 194.8 MBbls/d. Oil production increased, driven primarily by successful ground-game initiatives, which boosted the average working interest in second-quarter completions by 7% above the company’s initial expectations. Production also benefited from a more than 50% quarter-over-quarter increase in high-return workover projects.
NGL production came in at 86.2 MBbls/d, down 11.9% year over year. It also missed the Zacks Consensus Estimate by 11.2%. Meanwhile, natural gas production totaled 552.9 million cubic feet per day (MMcf/d), down 16.8% year over year, and missed the Zacks Consensus Estimate by 11.1%.
PR’s Price RealizationsPermian Resources’ average realized oil price was $97.81 per barrel in the second quarter, compared with $62.71 in the year-ago quarter. Moreover, the figure beat the consensus mark of $94 per barrel.
The realized NGL price was $23.28 per barrel, up from $17.75 a year ago, and beat the consensus mark of $22.16 per barrel. The company’s realized natural gas price was negative $2.40 per Mcf, in contrast to a positive 50 cents in the prior-year quarter. The consensus mark for the same was pegged at a negative of $2.41 per Mcf. Including hedges and purchased gas sales, the realized natural gas price was 38 cents per Mcf, compared with 76 cents a year ago.
PR’s Costs & ExpensesTotal operating expenses in the quarter rose to $929.9 million from $900.1 million in the year-ago quarter. Lease operating expenses totaled $189.9 million, up from $187.9 million in the year-ago quarter. Severance and ad valorem taxes rose to $143.7 million from $94.9 million a year earlier and the Exploration and other expenses also rose to $9.8 million from $5.1 million in the year-ago quarter. On a per-unit basis, Lease operating expenses increased to $5.55 per Boe from $5.36 a year ago.
PR’s Financial PositionPR generated $1.5 billion of net cash provided by operating activities in the second quarter, compared with $1 billion in the year-ago quarter. Adjusted operating cash flow totaled $1.3 billion, while adjusted free cash flow came in at $750.7 million.
Cash capital expenditures were $521.4 million, up from the prior-year period’s capital expenditures of $505 million. The company’s capital-efficient operating model supported strong free cash flow generation despite continued investment in development and bolt-on acquisitions.
As of June 30, 2026, PR had $131.7 million in cash and cash equivalents. The company had a long-term debt of approximately $3 billion, reflecting a debt-to-capitalization of 20%.
PR’s 2026 GuidancePermian Resources has raised its 2026 oil production target to 199 MBbls/d, up 10 MBbls/d from its initial February guidance. The increase reflects higher working interest from successful ground-game activities, greater workover activity and production from the Ward County bolt-on acquisition.
The company expects average working interest to exceed 80% for the full year, while second-half oil production is projected to exceed 200 MBbls/d. To support the higher production outlook, Permian Resources increased its 2026 cash capital expenditure guidance to $1.9-$2 billion, including about $25 million related to the Ward County acquisition. The revised full-year plan calls for total production of 400,000-430,000 Boe/d, oil production of 197,000-201,000 Bbls/d and approximately 250 gross operated TILs, with average lateral lengths of about 11,000 feet. Controllable cash costs are expected at $7.15-$8.15 per Boe, including lease operating expenses of about $5.45, gathering, processing and transportation costs of approximately $1.40, and cash G&A of around 80 cents per Boe.
Overall, this Zacks Rank #3 (Hold) company’s updated plan reflects higher production and capital spending while maintaining a focus on capital efficiency and operational growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Important Earnings at a GlanceWhile we have discussed PR’s second-quarter results in detail, let us take a look at three other key reports in this space.
Expand Energy Corporation (EXE - Free Report) reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses.
Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion.
As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%.
NOV Inc. (NOV - Free Report) reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment.
The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment.
As of June 30, 2026, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%.
The Williams Companies, Inc. (WMB - Free Report) reported second-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago period’s level of 46 cents, driven by better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P and West segments.
The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate by $2 million. The figure increased by 9.8% from the year-ago quarter’s reported revenues. This can be attributed to higher service revenues and increased product sales.
As of June 30, 2026, the company had cash and cash equivalents of $203 million and long-term debt of $28.1 billion, with a debt-to-capitalization of 64.7%.
Permian Resources vykázala rekordní volný peněžní tok za 2. čtvrtletí ve výši 751 mil. USD a zvýšila celoroční výhled těžby ropy na 199 000 barelů denně.
If There's a Domestic Manufacturing Boom, These 3 Stocks Could WinPermian Resources NYSE: PR reported record second-quarter free cash flow of $751 million, or $0.88 per share, as higher oil production, increased working interests in completed wells and a rapid response to commodity-price movements supported results.
Co-Chief Executive Officer Will Hickey said free cash flow increased nearly 50% from the prior quarter and exceeded the company’s total free cash flow generated during 2023. He said the company expects full-year 2026 free cash flow to be nearly double its 2024 result.
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High Yield Revival: 3 Cash-Rich Dividend Payers on SaleOil production averaged about 198,000 barrels per day during the second quarter, up 3% sequentially. Hickey said the company increased its workover-rig count by 50% after oil prices moved higher, improving well runtimes and accelerating incremental production. The company also raised its working interest in completed wells to about 82%, compared with its original expectation of 75%.
Those factors, along with well performance, drove approximately 6,000 barrels per day of quarter-over-quarter oil growth for cash capital expenditures of $521 million, according to Hickey.
Gas curtailments limited Waha exposure Plastic Surgery: Winners and Losers of the Proposed 10% Interest CapPermian Resources curtailed natural-gas production from high gas-oil-ratio wells exposed to Waha pricing during the quarter, when Waha natural gas averaged negative $3.14 per Mcf and traded as low as negative $9.52 per Mcf.
The curtailments reduced the company’s natural-gas production by about 20% from the prior quarter. Hickey said firm transportation agreements, hedging and the production curtailments enabled Permian Resources to realize $0.38 per Mcf for its gas during the period, providing more than $75 million of revenue uplift on natural-gas sales.
The company returned all previously curtailed wells to production in late June as Waha pricing improved, Chief Financial Officer Guy Oliphint said. He added that third- and fourth-quarter gas volumes should look more normal and that the company has transportation capacity expected to cover roughly all of its net gas volumes in 2027.
James Walter, co-CEO, said the company has not seen a meaningful change in basin activity due to improved gas egress. However, he said new pipelines coming online appear able to handle restored volumes and incremental growth, while the company feels more confident about crude and natural-gas takeaway capacity over the next several years.
Acquisition program expands Delaware Basin inventory Permian Resources said it has acquired about 55,000 net acres in the core Delaware Basin year to date through roughly 190 separate transactions, for total consideration of approximately $1.05 billion. The transactions added about 330 high-confidence, high-net-revenue-interest drilling locations, the company said.
The company closed a $520 million acquisition in Ward County covering approximately 2,000 net acres and 5,000 barrels of oil equivalent per day. The acreage is adjacent to its existing position and is fully held by production, Walter said.
Following that acquisition, Permian Resources entered an acreage trade agreement with an offset operator that is expected to close in the third quarter. The trade is designed to address the acquired property’s non-operated, low-working-interest and scattered-acreage characteristics. Walter said it is expected to increase operated net locations from 50 to 120 and extend average lateral lengths by 20%.
The company also assembled an approximately 15,000-net-acre contiguous position in Eddy County, New Mexico, called the Parkway bolt-on project. The acreage has two-mile lateral lengths and an 82.5% net revenue interest, Walter said.
Management characterized the acquisition strategy as focused on off-market and smaller transactions where the company believes it has commercial, technical or operational advantages. Walter said Permian Resources evaluates larger marketed packages as well, but remains disciplined on purchase prices and full-cycle return targets.
Guidance increased as working interests rise Permian Resources raised its full-year 2026 oil-production guidance to 199,000 barrels per day, representing 10% growth from 2025. Its capital-expenditure midpoint is now $1.95 billion, about 1% below 2025 spending, according to management.
Oliphint said the revised production outlook increased from 192,500 barrels per day after the first quarter. Of the 6,500-barrel-per-day increase, about 1,000 barrels per day reflects the annualized contribution from the Ward County acquisition. Most of the remaining increase comes from higher working interests in 2026 projects, supplemented by accelerated workovers.
Capital guidance increased by $100 million. Oliphint said approximately $25 million relates to Ward County takeover costs, including bringing equipment to the company’s operating standards, while the remainder reflects higher working interests in wells turned in line. He said the increase should not be doubled to estimate an annualized 2027 impact because most of the spending occurred in the second quarter.
At its current $1.95 billion to $2 billion spending range, Oliphint said the company would continue to grow production, while maintenance capital would be below that level. Management said future growth versus maintenance decisions will depend on commodity prices and service costs.
Efficiency work targets costs and recovery Hickey said Permian Resources is working to offset inflationary pressure from diesel and casing costs through longer laterals, water recycling, water-based mud in areas prone to drilling-fluid losses, slimmer wellbore designs and completion improvements.
The company’s average lateral length has increased to roughly 11,000 feet, and it drilled its first four-mile lateral during the second quarter. Hickey said the company expects lateral lengths to continue rising gradually, rather than through a sharp year-over-year change.
Permian Resources also began surfactant trials in completion and production operations. Hickey said two completion trials have been conducted, with one pad online and another yet to begin production. In late-life production applications, the company has seen results ranging from negligible impact to more than 100 barrels per day of uplift, though management said it is too early to determine the ultimate scale of the program.
The company ended the quarter with leverage of approximately 0.5 times and expects to remain at about that level at year-end. Hickey said the company intends to continue increasing its base dividend over time, while maintaining its existing overall capital-allocation approach.
About Permian Resources (NYSE:PR)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.
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Permian Resources Corporation oznámila konferenční hovor k výsledkům za 2. čtvrtletí 2026. V úvodu zaznělo pouze to, že vedení bude komentovat výsledky a bude používat i ne-GAAP ukazatele.
Permian Resources Corporation (PR) Q2 2026 Earnings Call August 6, 2026 10:00 AM EDT
Company Participants
Hays Mabry - Vice President of Investor Relations
William Hickey - Co-CEO & Director
James Walter - Co-CEO & Director
Guy Oliphint - Executive VP & CFO
Conference Call Participants
Scott Hanold - RBC Capital Markets, Research Division
Neal Dingmann - William Blair & Company L.L.C., Research Division
Neil Mehta - Goldman Sachs Group, Inc., Research Division
John Freeman - Raymond James & Associates, Inc., Research Division
Kevin MacCurdy - Pickering Energy Partners Insights
John Abbott - Wolfe Research, LLC
Phillip Jungwirth - BMO Capital Markets Equity Research
Hsu-Lei Huang
Joshua Silverstein - UBS Investment Bank, Research Division
Gabe Daoud - Truist Securities, Inc., Research Division
Leo Mariani - ROTH Capital Partners, LLC, Research Division
Paul Diamond - Citigroup Inc., Research Division
Sean Mitchell - Daniel Energy Partners, LLC
Presentation
Operator
Good morning, and welcome to Permian Resources conference call to discuss its second quarter 2026 earnings. Today's call is being recorded. A replay of the call will be available by visiting the company's website at www.permianres.com.
At this time, I will now turn the call over to Hays Mabry, Permian Resources Vice President of Investor Relations, for some opening remarks. Please go ahead.
Hays Mabry
Vice President of Investor Relations
Thanks, Eldi, and thank you all for joining us. On the call today are Will Hickey and James Walter, our Chief Executive Officers; and Guy Oliphint, our Chief Financial Officer.
Many of the comments during this call are forward-looking statements that involve risks and uncertainties that could affect our actual results and are discussed in more detail in our filings with the SEC. We may also refer to non-GAAP financial measures. For any non-GAAP measure we use, a reconciliation to the nearest corresponding GAAP measure can be found in our earnings release or presentation.
MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that its Board of Directors declared a quarterly base cash dividend of $0.16 per share of Class A common stock, or $0.64 per share on an annualized basis. The base dividend is payable on September 30, 2026 to shareholders of record as of September 16, 2026.
About Permian Resources
Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on driving peer-leading returns through the acquisition, optimization and development of high-return oil and natural gas properties. The Company’s assets are located in the Permian Basin, with a concentration in the core of the Delaware Basin. Through its position of approximately 535,000 net acres in West Texas and Southeast New Mexico, Permian Resources is the second largest Permian Basin pure-play E&P. For more information, please visit www.permianres.com.
For the quarter ended June 2026, Permian Resources (PR - Free Report) reported revenue of $1.86 billion, up 55.2% over the same period last year. EPS came in at $0.69, compared to $0.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.64 billion, representing a surprise of +13.25%. The company delivered an EPS surprise of +23.21%, with the consensus EPS estimate being $0.56.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Permian Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average daily net production - Natural gas: 552,885.00 Mcf/D compared to the 622,135.50 Mcf/D average estimate based on seven analysts.Average daily net production - Total: 376,409.00 BOE/D compared to the 395,272.10 BOE/D average estimate based on seven analysts.Average daily net production - Oil: 198,071.00 BBL/D compared to the 194,823.20 BBL/D average estimate based on seven analysts.Average daily net production - NGL: 86,191.00 BBL/D versus 97,083.45 BBL/D estimated by six analysts on average.Average sales prices - Gas - Including Derivative Cash Settlements: $0.38 versus the five-analyst average estimate of $-0.06.Average sales prices - Oil - Including Derivative Cash Settlements: $85.37 versus $81.80 estimated by four analysts on average.Average sales prices - NGL - Excluding the effects of GP&T: $23.28 compared to the $22.16 average estimate based on four analysts.Average sales prices - Natural gas - Excluding the effects of GP&T: $-2.40 versus $-2.41 estimated by three analysts on average.Average sales prices - Oil - Excluding the effects of hedging: $97.81 versus the three-analyst average estimate of $93.90.Net Revenues- Oil sales: $1.76 billion versus the four-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +75%.Net Revenues- NGL sales: $182.57 million versus the four-analyst average estimate of $196.92 million. The reported number represents a year-over-year change of +15.5%.Net Revenues- Natural gas sales: $-120.7 million versus the four-analyst average estimate of $-63.26 million. The reported number represents a year-over-year change of -500.1%.View all Key Company Metrics for Permian Resources here>>>
Shares of Permian Resources have returned +7.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
