While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company value investors might notice is Helix Energy Solutions Group (HLX - Free Report) . HLX is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 20.3. This compares to its industry's average Forward P/E of 24.11. Over the past 52 weeks, HLX's Forward P/E has been as high as 33.05 and as low as 7.83, with a median of 13.36.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. HLX has a P/S ratio of 1.14. This compares to its industry's average P/S of 1.38.
Finally, investors will want to recognize that HLX has a P/CF ratio of 4.91. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. HLX's current P/CF looks attractive when compared to its industry's average P/CF of 13.24. Over the past year, HLX's P/CF has been as high as 9.68 and as low as 4.11, with a median of 6.20.
If you're looking for another solid Oil and Gas - Field Services value stock, take a look at NCS Multistage (NCSM - Free Report) . NCSM is a Zacks Rank of #2 (Buy) stock with a Value score of A.
NCS Multistage also has a P/B ratio of 1.01 compared to its industry's price-to-book ratio of 3.00. Over the past year, its P/B ratio has been as high as 1.05, as low as 0.38, with a median of 0.62.
These are just a handful of the figures considered in Helix Energy Solutions Group and NCS Multistage's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that HLX and NCSM is an impressive value stock right now.
Helix Energy (HLX - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this offshore oil and gas services contractor is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Helix Energy, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsThe company is expected to earn $0.07 per share for the current quarter, which represents a year-over-year change of +450.0%.
The Zacks Consensus Estimate for Helix Energy has increased 40% over the last 30 days, as one estimate has gone higher compared to no negative revisions.
Current-Year Estimate RevisionsThe company is expected to earn $0.33 per share for the full year, which represents a change of +6.5% from the prior-year number.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, one estimate has moved up for Helix Energy versus no negative revisions. This has pushed the consensus estimate 13.79% higher.
Favorable Zacks RankThanks to promising estimate revisions, Helix Energy currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineInvestors have been betting on Helix Energy because of its solid estimate revisions, as evident from the stock's 7.8% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.
HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today the sale of all of the equity interests of its Gulf of America-focused Shallow Water Abandonment business to C-Dive, LLC, a member of the Chouest group of companies, for $107.5 million cash at closing, to be adjusted for working capital and other transaction expenses.
The divestiture, which was signed and closed May 1, follows Helix’s recent announcement of its entry into a definitive agreement with Hornbeck Offshore Services, Inc. ("Hornbeck") to combine to create a recognized leader in offshore operations through a diversified and expanded high-specification fleet of specialty vessels, supported by subsea robotics, well intervention and technical service capabilities. The sale of the Shallow Water Abandonment business furthers Helix’s strategic focus on deepwater operations, with a company combined with Hornbeck to provide innovative and integrated subsea and marine transportation solutions to customers across deepwater energy, defense and renewables.
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “This transaction sharpens Helix’s focus on deepwater well intervention and decommissioning, robotics and other offshore services as part of our larger global strategy. We are pleased with our accomplishments since acquiring the Shallow Water Abandonment business, as we achieved record financial performance, made improvements in processes and systems, and emphasized safety culture. We believe the Chouest Group will serve as a strategic owner well positioned to capitalize on this positive momentum and continue the long-term growth of that business.”
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. For more information about Helix, please visit www.helixesg.com.
Important Information About the Proposed Merger and Where to Find It
In connection with the proposed merger between Helix and Hornbeck, Helix intends to file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 to register the common stock of Helix (“Helix Shares”) to be issued in connection with the proposed merger. The registration statement will include a document that serves as a proxy statement and prospectus of Helix (the “proxy statement/prospectus”), and Helix will file other documents regarding the proposed merger with the SEC. This document is not a substitute for the registration statement, the proxy statement/prospectus, or any other document that Helix may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT HELIX AND HORNBECK, THE PROPOSED MERGER, THE RISKS RELATED THERETO, AND RELATED MATTERS.
After the registration statement has been declared effective, a definitive proxy statement will be mailed to the shareholders of Helix (the “Helix Shareholders”). Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus, as each may be amended or supplemented from time to time, and other relevant documents filed by Helix with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Helix, including the proxy statement/prospectus (when available), will be available free of charge from Helix’s website at helixesg.com under the “Investors” tab.
Participants in the Solicitation
Helix and certain of its directors and executive officers and Hornbeck and certain of its directors and executive officers, may be deemed to be participants in the solicitation of proxies from the Helix Shareholders with respect to the proposed merger under the rules of the SEC. Information regarding the names, affiliations and interests of certain of Helix’s directors and executive officers in the solicitation by reading Helix’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on February 26, 2026, Helix’s subsequent Quarterly Reports on form 10-Q filed with the SEC, Helix’s definitive proxy statement for the 2026 annual meeting of shareholders filed with the SEC on April 1, 2026 and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the proposed merger when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the Helix Shareholders in connection with the proposed merger, including a description of their direct and indirect interests, by security holdings or otherwise, will also be set forth in the proxy statement/prospectus and other relevant materials when filed with the SEC.
Forward-Looking Statements
This communication contains forward-looking statements. All statements, other than statements of present or historical fact included in this communication, regarding Helix’s proposed merger with Hornbeck, Helix’s ability to consummate the proposed merger, the benefits of the proposed merger and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, estimated synergies, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements regarding: Helix’s and Hornbeck’s expectations, hopes, beliefs, intentions or strategies regarding the completion of the proposed merger on the anticipated terms and timing, or at all, including obtaining regulatory and shareholder approvals, and the satisfaction of other conditions to the completion of the proposed merger; timeline and ability to realize anticipated benefits of the proposed merger (including expected synergies and balance sheet balances); and governance of the combined company. These forward-looking statements are based largely on Helix’s and Hornbeck’s current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause Helix’s or Hornbeck’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks related to potential litigation relating to the proposed merger, including the effects of any outcomes related thereto; the risk that disruptions from the proposed merger (including the ability of certain customers to terminate or amend contracts upon a change of control) will harm Helix’s or Hornbeck’s business, including current plans and operations, including during the pendency of the proposed merger; the ability of Helix or Hornbeck to retain and hire key personnel, to retain customers or maintain relationships with their respective suppliers and customers; the diversion of management’s time and attention from ordinary course business operations to completion of the proposed merger; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed merger; legislative, regulatory and economic developments; potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed merger that could affect Helix’s or Hornbeck’s financial performance as well as unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies, expansion and growth of Helix’s or Hornbeck’s businesses; the inability of Helix and Hornbeck to achieve expected synergies from the proposed merger or that it may take longer or be more costly than expected to achieve those synergies; an inability to de-leverage on the expected timeline, or at all; the imposition of any terms and conditions on any required governmental and regulatory approvals that could reduce the anticipated benefits to Helix and Hornbeck of the acquisition; the inability to successfully integrate Hornbeck’s operations with those of Helix without unexpected cost or delay; certain restrictions during the pendency of the proposed merger that may impact Helix’s or Hornbeck’s ability to pursue certain business opportunities or strategic transactions; the possibility that the proposed merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed merger, including in circumstances requiring Helix or Hornbeck to pay a termination fee and expense reimbursement; the risk that Helix’s or Hornbeck’s share price may decline significantly if the proposed merger is not consummated; there may be liabilities that are not known, probable or estimable at this time or unexpected costs, charges or expenses; actions by governments, regulatory authorities, customers, suppliers and partners; market conditions; results from acquired properties; demand for services; the performance of contracts by suppliers, customers and partners; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in Helix’s filings with the SEC. In addition, Helix and Hornbeck caution you that the forward-looking statements contained in this communication are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the proposed merger or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Helix or Hornbeck following announcement of the proposed merger; (iii) the inability to complete the proposed merger due to the failure to obtain approval of the shareholders of Helix or Hornbeck, or other conditions to closing in the merger agreement; (iv) the risk that the proposed merger disrupts Helix’s or Hornbeck current plans and operations as a result of the announcement of the proposed merger; (v) Helix’s and Hornbeck’s ability to realize the anticipated benefits of the proposed merger, which may be affected by, among other things, competition and the ability of Helix and Hornbeck to grow and manage growth profitably following the proposed merger; and (vi) costs related to the proposed merger. The forward-looking statements in this press release are based upon information available to Helix and Hornbeck as of the date of this press release and, while Helix and Hornbeck believe such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, Helix and Hornbeck do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Helix’s periodic filings with the SEC, including Helix’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, Helix’s subsequent Quarterly Reports on Form 10-Q and in the Form S-4, when filed. Helix’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication is not intended to and does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.
The proposed transactions may contain terms that could limit superior competing offers.
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
NEW YORK, May 06, 2026 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:
Helix Energy Solutions Group, Inc. (NYSE: HLX)’s merger with Hornbeck Offshore Services, Inc. Upon closing of the proposed transaction, Helix shareholders will own approximately 45% of the combined company on a fully diluted basis. If you are a Helix shareholder, click here to learn more about your legal rights and options.
Organon & Co. (NYSE: OGN)’s sale to Sun Pharmaceutical Industries Limited for $14.00 per share. If you are an Organon shareholder, click here to learn more about your legal rights and options.
XOMA Royalty Corporation (NASDAQ: XOMA)’s sale to Ligand Pharmaceuticals Incorporated for $39.00 per share. If you are a XOMA shareholder, click here to learn more about your rights and options.
RE/MAX Holdings, Inc. (NYSE: RMAX)’s sale to The Real Brokerage Inc. for either 5.152 shares of the combined company or $13.80 in cash per share. If you are a RE/MAX shareholder, click here to learn more about your rights and options.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
Daniel Sadeh, Esq.
Zachary Halper, Esq.
One World Trade Center
85th Floor
New York, NY 10007
(212) 763-0060 [email protected] [email protected]
https://www.halpersadeh.com
Helix Energy (HLX - Free Report) closed the last trading session at $10.14, gaining 7.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $13.67 indicates a 34.8% upside potential.
The average comprises three short-term price targets ranging from a low of $13.00 to a high of $14.00, with a standard deviation of $0.58. While the lowest estimate indicates an increase of 28.2% from the current price level, the most optimistic estimate points to a 38.1% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in HLX. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in HLXAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 13.8% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, HLX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much HLX could gain, the direction of price movement it implies does appear to be a good guide.
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One company value investors might notice is Helix Energy Solutions Group (HLX - Free Report) . HLX is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 20.3. This compares to its industry's average Forward P/E of 23.20. HLX's Forward P/E has been as high as 33.05 and as low as 7.83, with a median of 13.36, all within the past year.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. HLX has a P/S ratio of 1.14. This compares to its industry's average P/S of 1.35.
Finally, our model also underscores that HLX has a P/CF ratio of 4.91. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. HLX's P/CF compares to its industry's average P/CF of 11.61. Over the past year, HLX's P/CF has been as high as 9.68 and as low as 4.11, with a median of 6.20.
Value investors will likely look at more than just these metrics, but the above data helps show that Helix Energy Solutions Group is likely undervalued currently. And when considering the strength of its earnings outlook, HLX sticks out as one of the market's strongest value stocks.
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One stock to keep an eye on is Helix Energy Solutions Group (HLX - Free Report) . HLX is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 20.3 right now. For comparison, its industry sports an average P/E of 22.36. HLX's Forward P/E has been as high as 33.05 and as low as 7.83, with a median of 13.36, all within the past year.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. HLX has a P/S ratio of 1.08. This compares to its industry's average P/S of 1.39.
Finally, we should also recognize that HLX has a P/CF ratio of 4.91. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. HLX's P/CF compares to its industry's average P/CF of 11.22. HLX's P/CF has been as high as 9.68 and as low as 4.11, with a median of 6.20, all within the past year.
These are just a handful of the figures considered in Helix Energy Solutions Group's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that HLX is an impressive value stock right now.
Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2025 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating
Marchex, Inc. (NASDAQ: MCHX) related to its merger with Archenia, Inc. ACT NOW. The Shareholder Vote is scheduled for July 1, 2026.
Click here for more information https://monteverdelaw.com/case/marchex-inc/. It is free and there is no cost or obligation to you.
Helix Energy Solutions Group, Inc. (NYSE: HLX) related to its merger with Hornbeck Offshore Services, Inc. Upon completion of the proposed transaction, Helix shareholders will own approximately 45% of the combined company on a fully diluted basis. Click here for more information https://monteverdelaw.com/case/helix-energy-solutions-group-inc/. It is free and there is no cost or obligation to you.
Cantor Equity Partners II, Inc. (NASDAQ: CEPT) related to its merger with Securitize, Inc. Under the terms of the proposed transaction, Cantor II will issue shares to Securitize shareholders subject to an exchange ratio. ACT NOW. The Shareholder Vote is scheduled for June 29, 2026.
Click here for more information https://monteverdelaw.com/case/cantor-equity-partners-ii-inc/. It is free and there is no cost or obligation to you.
PSB Holdings, Inc. (OTCQX: PSBQ) related to its sale to Bank First Corporation. Under the terms of the proposed transaction, PSB shareholders are expected to receive 0.3470 shares of Bank First common stock for each share of PSB. Click here for more info https://monteverdelaw.com/case/psb-holdings-inc/. It is free and there is no cost or obligation to you.
NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:
Do you file class actions and go to Court?When was the last time you recovered money for shareholders?What cases did you recover money in and how much? About Monteverde & Associates PC
Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.
No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.
Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America [email protected]
Tel: (212) 971-1341
Attorney Advertising. (C) 2026 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.
Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.
The proposed transactions may contain terms that could limit superior competing offers.
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:
Nathan's Famous, Inc. (NASDAQ: NATH)'s sale to Smithfield Foods, Inc. for $102.00 per share in cash. If you are a Nathan's shareholder, click here to learn more about your rights and options.
Helix Energy Solutions Group, Inc. (NYSE: HLX)'s merger with Hornbeck Offshore Services, Inc. Upon closing of the proposed transaction, Helix shareholders will own approximately 45% of the combined company on a fully diluted basis. If you are a Helix shareholder, click here to learn more about your legal rights and options.
Air Industries Group (NYSE American: AIRI)'s merger with Tenax Aerospace Acquisition, LLC. Upon completion of the proposed transaction, Air Industries shareholders are expected to own approximately 5% of the combined company. If you are an Air Industries shareholder, click here to learn more about your rights and options.
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX)'s merger with American Ocean Minerals Corporation. If you are an Odyssey shareholder, click here to learn more about your legal rights and options.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
Daniel Sadeh, Esq.
Zachary Halper, Esq.
One World Trade Center
85th Floor
New York, NY 10007
(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com
Are NATH, HLX, AIRI, OMEX Obtaining Fair Deals for their Shareholders? PR Newswire
NEW YORK, June 9, 2026
Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.
The proposed transactions may contain terms that could limit superior competing offers.
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:
Nathan's Famous, Inc. (NASDAQ: NATH)'s sale to Smithfield Foods, Inc. for $102.00 per share in cash. If you are a Nathan's shareholder, click here to learn more about your rights and options.
Helix Energy Solutions Group, Inc. (NYSE: HLX)'s merger with Hornbeck Offshore Services, Inc. Upon closing of the proposed transaction, Helix shareholders will own approximately 45% of the combined company on a fully diluted basis. If you are a Helix shareholder, click here to learn more about your legal rights and options.
Air Industries Group (NYSE American: AIRI)'s merger with Tenax Aerospace Acquisition, LLC. Upon completion of the proposed transaction, Air Industries shareholders are expected to own approximately 5% of the combined company. If you are an Air Industries shareholder, click here to learn more about your rights and options.
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX)'s merger with American Ocean Minerals Corporation. If you are an Odyssey shareholder, click here to learn more about your legal rights and options.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
Daniel Sadeh, Esq.
Zachary Halper, Esq.
One World Trade Center
85th Floor
New York, NY 10007
(212) 763-0060 [email protected] [email protected]
https://www.halpersadeh.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/are-nath-hlx-airi-omex-obtaining-fair-deals-for-their-shareholders-302795511.html
Key Takeaways PBF Energy reported a narrower Q1 loss, as revenues rose 11.9% y/y and beat estimates.PBF Energy's refining segment returned to profit, supported by higher margins and throughput gains.PBF's throughput rose to 844.2 thousand bpd, with margins per barrel increasing to $9.53 from $5.96 y/y. PBF Energy Inc. (PBF - Free Report) reported a first-quarter 2026 adjusted loss of 88 cents per share, wider than the Zacks Consensus Estimate of a loss of 79 cents by 11.4%. The bottom line improved from the year-ago quarter’s loss of $3.09.
Total quarterly revenues increased 11.9% year over year to $7.90 billion from $7.07 billion in the prior-year quarter. The top line beat the Zacks Consensus Estimate of $6.83 billion.
The wider-than-expected loss was due to special charges and increased total costs and expenses. Higher refining margins and increased throughput partially offset the negatives.
PBF Energy's Refining Segment Returned to ProfitRefining revenues totaled $7.90 billion, up from the year-ago figure of $7.06 billion. The Logistics segment generated $93.2 million in revenues, down from $94.5 million in the year-ago period.
Refining reported income from operations of $335.3 million against an operating loss of $473.2 million a year ago. Income from operations for the Logistics segment was $47.6 million compared with $51.4 million in the prior-year quarter. The Corporate segment posted an operating loss of $83.3 million, which narrowed from $89.4 million recorded in the year-ago quarter.
PBF's Throughput Rose on Martinez Progress & Stable RunsIn the quarter under review, throughput improved across PBF’s network. Total crude oil and feedstocks throughput averaged 844.2 thousand barrels per day (bpd), up from 730.4 thousand bpd in the first quarter of 2025.
Regional operating data pointed to broad-based gains. East Coast throughput averaged 304.4 thousand bpd, higher than 262.2 thousand bpd recorded in the year-ago period. Mid-Continent (Toledo) throughput averaged 144.0 thousand bpd compared with 137.4 thousand bpd in the year-ago quarter. Gulf Coast (Chalmette) throughput increased to 185.1 thousand bpd from 157.8 thousand bpd registered in the first quarter of 2025. West Coast (Torrance and Martinez) throughput increased from the year-ago figure of 173 thousand bpd to 210.7 thousand bpd.
Margin per Barrel of PBFThe company-wide gross refining margin per barrel of throughput, excluding special items, was $9.53, higher than the year-earlier figure of $5.96. The gross refining margin per barrel of throughput was $11.68 for the East Coast, up from $5.86 in the year-ago quarter. The realized refining margin rose to $11.34 per barrel for the Gulf Coast from $5.32 a year ago. The metric was $7.34 per barrel in the Mid-Continent and $6.31 per barrel in the West Coast compared with $6.76 and $6.04, respectively, in the year-ago period.
PBF Energy Managed Costs Despite RINs & Derivative LossesOn a GAAP basis, first-quarter 2026 income from operations improved from the year-ago loss of $511.2 million to $299.6 million, while the company flagged a $208.8 million mark-to-market derivative loss within its reported results.
Special items affected comparability. The quarter included a $313.0 million LCM inventory adjustment, a $106.5 million gain on insurance recoveries related to the Martinez refinery fire, $11.5 million of Martinez-related expenses and $9.4 million of costs tied to the Refinery Business Improvement initiative.
Costs & Expenses of PBFTotal costs and expenses in the reported quarter were $7.60 billion, up from $7.58 billion in the year-ago period.
PBF's Balance Sheet & DividendPBF exited the quarter with $541.8 million of cash and cash equivalents and total debt of $2,802.3 million, reflecting a total debt-to-capitalization of 33%. Cash used in operating activities totaled $323.7 million in the quarter.
Shareholders are set to receive a quarterly dividend of 27.5 cents per share, payable on May 29, 2026, to holders of record as of May 14.
PBF’s Q2 OutlookFor the second quarter of 2026, PBF Energy anticipates throughput volumes on the East Coast to be between 280,000 bpd and 300,000 bpd. In the Mid-Continent region, the figure is estimated to be between 145,000 bpd and 155,000 bpd. The Gulf Coast is expected to report throughput in the range of 175,000-185,000 bpd, while the West Coast is expected to deliver between 250,000 bpd and 270,000 bpd. Total PBF’s throughput volumes are expected to be in the range of 850,000-910,000 bpd. Renewable diesel production is anticipated to be in the range of 15,000-16,000 bpd for the second quarter.
PBF’s Zacks Rank & Key PicksPBF currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Chevron Corporation (CVX - Free Report) , Valero Energy Corporation (VLO - Free Report) and Eni S.p.A. (E - Free Report) . CVX, VLO and E each sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chevron reported first-quarter 2026 adjusted earnings per share (EPS) of $1.41, which beat the Zacks Consensus Estimate of 92 cents.
As of March 31, 2026, CVX reported $5.3 million in cash and cash equivalents. At the quarter's end, its total debt amounted to $45.4 billion.
Valero reported first-quarter 2026 adjusted EPS of $4.22, which beat the Zacks Consensus Estimate of $3.07.
As of March 31, 2026, VLO reported $5.7 billion in cash and cash equivalents. At the quarter's end, its total debt amounted to $9.2 billion.
Eni reported first-quarter 2026 adjusted earnings from continuing operations of 81 cents per American Depository Receipt, which missed the Zacks Consensus Estimate of $1.13.
As of March 31, 2026, E had a long-term debt of €21.7 billion and cash and cash equivalents of €8.3 billion.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: PBF Energy (PBF - Free Report) Based in New jersey, PBF Energy Inc. is a leading refiner of crude. Through five oil refineries and associated infrastructure in the United States, the company provides end products that comprise heating oil, transportation fuels, lubricants and many related products. The refineries can collectively process 1,000,000 barrels of crude every day.
PBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 7.6; value investors should take notice.
For fiscal 2026, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $5.30 to $6.08 per share. PBF boasts an average earnings surprise of +113.3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, PBF should be on investors' short list.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: PBF Energy (PBF - Free Report) Based in New jersey, PBF Energy Inc. is a leading refiner of crude. Through five oil refineries and associated infrastructure in the United States, the company provides end products that comprise heating oil, transportation fuels, lubricants and many related products. The refineries can collectively process 1,000,000 barrels of crude every day.
PBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. PBF has a Momentum Style Score of A, and shares are up 0.1% over the past four weeks.
For fiscal 2026, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $5.43 to $6.21 per share. PBF boasts an average earnings surprise of +113.3%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PBF should be on investors' short list.
PBF Energy benefits from elevated crack spreads due to geopolitical disruptions, driving windfall profits and strong near-term financials. Operational reliability is a growing concern, with recent refinery incidents highlighting risks from aggressive cost-cutting and smaller scale versus peers. PBF maintains excellent liquidity and is prioritizing debt reduction, targeting net debt to capital below 20% from the current 36% by 2027.
PBF Energy (PBF - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this refiner, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For PBF Energy, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsFor the current quarter, the company is expected to earn $3.20 per share, which is a change of +410.7% from the year-ago reported number.
Over the last 30 days, the Zacks Consensus Estimate for PBF Energy has increased 50.71% because three estimates have moved higher while one has gone lower.
Current-Year Estimate RevisionsFor the full year, the company is expected to earn $6.21 per share, representing a year-over-year change of +250.4%.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, four estimates have moved up for PBF Energy versus two negative revisions. This has pushed the consensus estimate 49.24% higher.
Favorable Zacks RankThe promising estimate revisions have helped PBF Energy earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineInvestors have been betting on PBF Energy because of its solid estimate revisions, as evident from the stock's 8.9% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.
On May 13, 2026, PBF Energy Inc PBF shares fell 3.5% to a current price of $40.93. This decline comes amid a 52-week trading range that has seen a high of $52.18 and a low of $17.53, indicating significant volatility in the stock's performance over the past year.
GF Value™ verdict: Current price is $40.93, which is 26.6% overvalued compared to the GF Value™ of $32.34.GF Score™ of 71/100 indicates that PBF is above average in its overall ranking based on key financial metrics.Notable signal: Insiders have sold $475.6 million worth of shares in the last three months, with no buying activity reported. Is PBF Overvalued or Undervalued? PBF Energy Inc's current price of $40.93 suggests that the stock is trading at a significant premium compared to its GF Value™ estimate of $32.34. This represents a 26.6% overvaluation, indicating that the stock may not provide an adequate margin of safety for prospective investors. The GF Valuation label classifies PBF as "Modestly Overvalued," suggesting that while the company has potential, the current price may not reflect its intrinsic value accurately.
Given the current overvaluation, investors should be cautious as the risk of a price correction could impact shareholder returns. The GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates, which further supports the conclusion that PBF shares may not be a favorable investment at this time.
How Does PBF's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 11.0x 2.7x Forward P/E 7.8x N/A PBF's current P/E ratio of 11.0x is significantly above its 5-year median P/E of 2.7x, indicating that the stock is trading at a considerable premium compared to its historical valuation. Furthermore, the current P/E is 307% above its 5-year median, reinforcing the GF Value™ verdict of overvaluation. This P/E analysis aligns with the GF Value™ assessment, indicating that PBF may not be a bargain at its current price level.
What Does PBF's GF Score™ Tell Us? Metric Rating GF Score™ 71/100 Financial Strength 5/10 Profitability 7/10 Growth 4/10 Valuation 5/10 Momentum 3/10 PBF's GF Score™ of 71/100 indicates that it is positioned above average compared to its peers. The strongest area is profitability, with a score of 7/10, suggesting that the company has been effective in generating profits. However, its growth rank of 4/10 and momentum rank of 3/10 point to weaknesses in these areas, which could affect future performance. Overall, while PBF shows potential through its profitability, the lower growth and momentum scores may raise concerns about its sustainability moving forward.
What Are Insiders Doing with PBF Stock? Insider activity at PBF Energy Inc has shown a significant trend towards selling, with insiders divesting $475.6 million worth of shares in the last three months without any reported buying activity. This pattern could signal a lack of confidence from those within the company regarding its future performance or stock price trajectory. Such selling activity often raises red flags for external investors, leading to questions about the outlook for the company and its stock.
What This Means for Investors Based on the current analysis, PBF Energy Inc is deemed overvalued according to the GF Value™ assessment, suggesting that the stock may not be an optimal investment at its current price.
For the complete analysis, visit the PBF Energy Inc PBF stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is PBF's GF Score™?
PBF's GF Score™ is 71/100, indicating that it is above average in terms of its overall ranking based on key financial metrics.
Is PBF overvalued or undervalued?
PBF is overvalued, with its current price of $40.93 being 26.6% above the GF Value™ of $32.34.
What is PBF's P/E ratio?
PBF's P/E ratio is 11.0x, which is significantly above its 5-year median P/E of 2.7x, reinforcing the conclusion of overvaluation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Investors with an interest in Oil and Gas - Refining and Marketing stocks have likely encountered both PBF Energy (PBF - Free Report) and Neste OYJ - Unsponsored ADR (NTOIY - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Both PBF Energy and Neste OYJ - Unsponsored ADR have a Zacks Rank of #1 (Strong Buy) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is just one piece of the puzzle for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
PBF currently has a forward P/E ratio of 6.59, while NTOIY has a forward P/E of 11.94. We also note that PBF has a PEG ratio of 0.17. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NTOIY currently has a PEG ratio of 0.23.
Another notable valuation metric for PBF is its P/B ratio of 0.86. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, NTOIY has a P/B of 3.08.
These metrics, and several others, help PBF earn a Value grade of B, while NTOIY has been given a Value grade of C.
Both PBF and NTOIY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that PBF is the superior value option right now.
After reaching an important support level, PBF Energy (PBF - Free Report) could be a good stock pick from a technical perspective. PBF surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, PBF has gained 13.8%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.
Looking at PBF's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 6 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on PBF for more gains in the near future.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: PBF Energy (PBF - Free Report) Based in New jersey, PBF Energy Inc. is a leading refiner of crude. Through five oil refineries and associated infrastructure in the United States, the company provides end products that comprise heating oil, transportation fuels, lubricants and many related products. The refineries can collectively process 1,000,000 barrels of crude every day.
PBF is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. PBF has a Growth Style Score of B, forecasting year-over-year earnings growth of 262.2% for the current fiscal year.
Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $5.73 to $6.70 per share. PBF also boasts an average earnings surprise of +113.3%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PBF should be on investors' short list.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at PBF Energy (PBF - Free Report) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. PBF Energy currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if PBF is a promising momentum pick, let's examine some Momentum Style elements to see if this refiner holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For PBF, shares are up 3.91% over the past week while the Zacks Oil and Gas - Refining and Marketing industry is up 2.68% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 11.63% compares favorably with the industry's 13.48% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of PBF Energy have risen 22.79%, and are up 93.13% in the last year. In comparison, the S&P 500 has only moved 7.88% and 25.61%, respectively.
Investors should also take note of PBF's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now PBF is averaging 3,301,196 shares for the last 20 days..
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with PBF.
Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost PBF's consensus estimate, increasing from $0.97 to $6.70 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that PBF is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep PBF Energy on your short list.
On May 21, 2026, PBF Energy Inc PBF shares fell 6.4% today, bringing the current price to $39.07. The stock has experienced a 52-week range between $17.53 and $52.18. This recent downturn comes despite a year-to-date increase of 46.2% and a remarkable 100.8% surge over the past year.
GF Value™ verdict: Current price of $39.07 is 19.7% above the GF Value™ of $32.64.GF Score™ is 75/100, indicating that the stock is rated as Above Average.Notable signal: Insiders sold $459.7M in shares over the last 3 months, with no buying activity. Is PBF Overvalued or Undervalued? PBF Energy Inc's current price of $39.07 exceeds the GF Value™ estimate of $32.64, suggesting that the stock is overvalued by approximately 19.7%. This overvaluation presents a risk for investors, as the stock may not provide the expected returns if it reverts to its intrinsic value. The GF Valuation label indicates that PBF is Modestly Overvalued, a designation that reflects the current valuation metrics in relation to historical performance and future growth prospects. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
Given that the stock is trading above its calculated intrinsic value, investors should be cautious. The margin of safety is currently negative, meaning that purchasing at this level could expose investors to potential losses should the price correct itself towards the GF Value™ estimate.
How Does PBF's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 10.5x 2.8x Forward P/E 7.4x N/A The current P/E ratio of 10.5x is significantly above its 5-year median P/E of 2.8x, representing a 276% increase. This analysis aligns with the GF Value™ verdict, indicating that PBF is trading at a premium compared to its historical valuations. Additionally, the forward P/E ratio of 7.4x suggests that future earnings expectations are more favorable; however, the current P/E still implies a high valuation compared to historical standards.
What Does PBF's GF Score™ Tell Us? Metric Rating GF Score™ 75 Financial Strength 5/10 Profitability 7/10 Growth 5/10 Valuation 5/10 Momentum 6/10 PBF's GF Score™ of 75/100 signifies that it is rated Above Average compared to its peers. The strongest area is Profitability, where it scores 7/10, indicating solid profit margins and overall financial health. In contrast, Financial Strength and Growth both score 5/10, suggesting some vulnerabilities in these areas. The Valuation and Momentum scores further reflect moderate performance, indicating that while the stock has strong profitability metrics, there are concerns regarding its financial stability and growth potential.
What Are Insiders Doing with PBF Stock? In the last three months, insider activity has been notably negative, with insiders selling $459.7M worth of shares without any purchases. This trend suggests a lack of confidence from those closest to the company, which may indicate potential issues or a belief that the stock is currently overvalued. A high volume of insider selling could signal that insiders anticipate a decline in share price or are taking profits from their investments.
What This Means for Investors Based on the GF Value™ assessment, PBF Energy Inc is considered overvalued at its current price of $39.07, which is 19.7% above the GF Value™ of $32.64. This valuation, combined with the concerning insider selling activity, suggests that potential risks may outweigh the rewards for prospective investors at this time.
For the complete analysis, visit the PBF Energy Inc PBF stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is PBF's GF Score™?
PBF's GF Score™ is 75/100, indicating that it is rated as Above Average compared to its peers, suggesting better potential for long-term returns.
Is PBF overvalued or undervalued?
PBF is currently overvalued, with a GF Value™ of $32.64 compared to its current price of $39.07, indicating a 19.7% overvaluation.
What is PBF's P/E ratio?
PBF's P/E ratio is 10.5x, which is significantly above its 5-year median P/E of 2.8x, suggesting that the stock is trading at a much higher valuation than its historical average.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
, /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) ("PBF Energy") today announced that its indirect subsidiary, PBF Holding Company LLC ("PBF Holding"), intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of senior notes due 2034 (the "Notes") in a private offering. The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. Completion of the offering is subject to, among other things, pricing and market conditions. PBF Holding intends to use the net proceeds from the proposed offering and available cash to fund the redemption in full of its outstanding 6.00% Senior Notes due 2028 (the "2028 Notes").
The Notes will be offered in a private placement and are expected to be resold by the initial purchasers to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The offer of the Notes will be made only by means of a private offering memorandum to qualified investors and has not been and will not be registered under the Securities Act or any applicable state securities laws, and the Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, qualification or exemption under the securities laws of any such jurisdiction.
Forward-Looking Statements
Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the risks relating to the proposed offering, the proposed redemption, the securities markets generally and the company's expectations with respect to the timing and size of the proposed offering and the anticipated use of proceeds therefrom. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond the company's control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the company's filings with the SEC. All forward-looking statements speak only as of the date hereof. The company undertakes no obligation to revise or update any forward-looking statements except as may be required by applicable securities laws.
About PBF Energy Inc.
PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.
PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.
Contacts:
Colin Murray (investors)
[email protected]
Tel: 973.455.7578
Michael C. Karlovich (media)
[email protected]
Tel: 973.455.8994
, /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) ("PBF Energy") today announced that its indirect subsidiary, PBF Holding Company LLC ("PBF Holding"), priced $500 million in aggregate principal amount of 7.25% senior notes due 2034 (the "Notes") in a private offering. The offering is expected to close on May 28, 2026, subject to customary closing conditions. The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. PBF Holding intends to use the net proceeds from the offering and available cash to fund the redemption in full of its outstanding 6.00% Senior Notes due 2028 (the "2028 Notes").
The Notes will be offered in a private placement and are expected to be resold by the initial purchasers to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The offer of the Notes will be made only by means of a private offering memorandum to qualified investors and has not been and will not be registered under the Securities Act or any applicable state securities laws, and the Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, qualification or exemption under the securities laws of any such jurisdiction.
This press release does not constitute a notice of redemption under the indenture governing the 2028 Notes. On May 26, 2026, PBF Holding and PBF Finance issued a notice of conditional optional full redemption for all $801.6 million of the outstanding 2028 Notes at a redemption price equal to 100.000% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon to, but excluding, the redemption date of June 25, 2026. The redemption of the 2028 Notes is conditioned upon successful completion by PBF Holding and PBF Finance of one or more debt financings with aggregate gross proceeds of no less than $500.0 million after the date of such notice.
Forward-Looking Statements
Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the risks relating to the offering, the proposed redemption, the securities markets generally and the company's expectations with respect to the closing of the offering and the anticipated use of proceeds therefrom. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond the company's control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the company's filings with the SEC. All forward-looking statements speak only as of the date hereof. The company undertakes no obligation to revise or update any forward-looking statements except as may be required by applicable securities laws.
About PBF Energy Inc.
PBF Energy Inc. (NYSE: PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.
PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.
Contacts:
Colin Murray (investors)
[email protected]
Tel: 973.455.7578
Michael C. Karlovich (media)
[email protected]
Tel: 973.455.8994
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: PBF Energy (PBF - Free Report) Based in New jersey, PBF Energy Inc. is a leading refiner of crude. Through five oil refineries and associated infrastructure in the United States, the company provides end products that comprise heating oil, transportation fuels, lubricants and many related products. The refineries can collectively process 1,000,000 barrels of crude every day.
PBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 5.71; value investors should take notice.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $3.70 to $6.70 per share. PBF also boasts an average earnings surprise of +113.3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, PBF should be on investors' short list.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) today announced that members of its management team will participate in the Bank of America Energy and Power Credit Conference on June 3, 2026.
Any company presentation materials will be made available on the Investor Relations section of the PBF Energy website at www.pbfenergy.com.
About PBF Energy Inc.
PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.
PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.
Contacts:
Colin Murray (investors)
[email protected]
Tel: 973.455.7578
Michael C. Karlovich (media)
[email protected]
Tel: 973.455.8981
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: PBF Energy (PBF - Free Report) PBF Energy Inc. is a leading independent refiner of crude oil based in Parsippany, New Jersey. Through six oil refineries and associated infrastructure in the United States, the company produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The refineries can collectively process about 1,000,000 barrels of crude oil per day.
PBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. PBF has a Growth Style Score of A, forecasting year-over-year earnings growth of 262.2% for the current fiscal year.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $3.00 to $6.70 per share. PBF also boasts an average earnings surprise of +113.3%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PBF should be on investors' short list.
On June 10, 2026, PBF Energy Inc PBF shares rose 5.5% today, bringing the current price to $42.57. This price is notably within a 52-week range of $20.17 to $52.18, reflecting a significant increase over the past year.
GF Value™ verdict: PBF is currently priced at $42.57, which is 27.6% above the GF Value™ estimate of $33.36.GF Score™: 65/100, indicating an above-average assessment based on key financial metrics.Most notable signal: Insiders sold $394.1M worth of stock in the last 3 months, with no buying activity. Is PBF Overvalued or Undervalued? PBF Energy Inc is currently trading at $42.57, which is significantly above the GF Value™ estimate of $33.36. This indicates that the stock is 27.6% overvalued, suggesting a lack of margin of safety for potential investors. The GF Valuation label categorizes PBF as "Modestly Overvalued," which implies that while the company is performing well, its current market price may not reflect its intrinsic value accurately.
Investors should be cautious when considering PBF at this price point. The overvaluation risk indicates that the stock price may not be sustainable in the long run, and there may be limited upside potential compared to the downside risk. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
How Does PBF's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 11.5x 2.9x Forward P/E 6.2x - The current P/E (TTM) of PBF is 11.5x, which is 291% above its 5-year median P/E of 2.9x. This analysis shows that PBF is trading significantly above its historical valuation levels. The P/E analysis aligns with the GF Value™ verdict, confirming that PBF is indeed overvalued at its current price.
What Does PBF's GF Score™ Tell Us? Metric Rating GF Score™ 65 Financial Strength 5/10 Profitability 7/10 Growth 2/10 Valuation 6/10 Momentum 3/10 PBF's GF Score™ of 65/100 indicates an above-average stock based on key financial metrics. The strongest area is profitability with a rank of 7/10, suggesting the company has solid earnings capability. However, the growth rank of 2/10 indicates that PBF may be facing challenges in expanding its business. The valuation rank of 6/10 reflects a moderate concern regarding current pricing, while the momentum rank of 3/10 suggests less favorable stock price trends, which aligns with the overvaluation noted in the GF Value™ assessment.
What Are Insiders Doing with PBF Stock? In recent months, insiders have sold $394.1 million worth of PBF stock, with no recorded buying activity. This pattern of selling without any purchases raises potential concerns about the insiders' confidence in the company's future performance. Such actions may suggest that insiders believe the stock is overvalued or that they are capitalizing on current high prices.
What This Means for Investors Based on the assessment of GF Value™, PBF Energy Inc is currently overvalued. The significant premium over its intrinsic value suggests that investors may want to exercise caution before entering or expanding their positions in the stock.
For the complete analysis, visit the PBF Energy Inc PBF stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is PBF's GF Score™?
PBF's GF Score™ is 65/100, indicating that it is rated above average based on key financial metrics.
Is PBF overvalued or undervalued?
PBF is currently overvalued, with a GF Value™ estimate of $33.36 compared to its trading price of $42.57.
What is PBF's P/E ratio?
PBF's P/E (TTM) ratio is 11.5x, which is significantly higher than its 5-year median of 2.9x, indicating that it is trading above its historical valuation levels.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +24% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: PBF Energy (PBF - Free Report) PBF Energy Inc. is a leading independent refiner of crude oil based in Parsippany, New Jersey. Through six oil refineries and associated infrastructure in the United States, the company produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The refineries can collectively process about 1,000,000 barrels of crude oil per day.
PBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. PBF has a Momentum Style Score of A, and shares are up 1.2% over the past four weeks.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $2.38 to $6.91 per share. PBF boasts an average earnings surprise of +113.3%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PBF should be on investors' short list.
The Iran conflict has certainly changed short term oil prices, amongst a whole lot of other things, in the past two months. Before that, however, oil prices did not send a particularly strong signal heading into 2026. Futures curves suggested relatively flat pricing, and operator expectations remained anchored in the high-$50s to low-$60s range. On the surface, that would not typically support a valuation expansion for oil-focused exploration and production companies.
Yet equity values for independent, oil-weighted E&Ps, especially those focused in the Permian and Eagle Ford, show increases that were not visible at the end of 2025.
Increasingly, valuations are being driven less by near-term commodity prices and more by structural factors: inventory depth, capital discipline, and the growing importance of scale. The recently announced Devon Energy and Coterra Energy merger provides a clear example of that trend.
I noticed this shortly before the merger announcement when stock prices rose subsequent to a November article I wrote. The same group of companies: Diamondback Energy (FANG), Permian Resources (PR), Devon Energy (DVN), and APA Corporation (APA) (minus Vital which merged with Crescent in December) were up significantly since then:
Permian Independents November 25 - April 26
Mercer Capital
Enterprise values have risen around $30 billion for these four companies since early November. After observing this, talking to clients and industry friends, and reading up on some recent developments, the key takeaway was that valuations are not rising because of a particularly bullish commodity price outlook, regardless of what is happening in the Strait of Hormuz. In fact, recent public mergers are being priced on more bearishly conservative commodity price decks that are below NYMEX strip prices and survey expectations. Simply put, valuations are rising because scarcity is becoming more visible.
MORE FOR YOU
This is propelled by three straightforward trends. First, high-quality drilling inventory is becoming more finite. Second, capital discipline limits supply growth. Finally, scale is increasingly required to compete effectively. These factors combine to create a more supportive valuation environment for the “haves” of these three things, even amid the absence of recent upticks in near-term commodity price signals.
Public markets have sometimes appeared to be slower to fully reflect this shift, often focusing on near-term price uncertainty, which does have an impact on value. However, strategic transactions and private market activity suggest a perspective that places greater weight on long-term asset quality and durability.
Devon-Coterra Merger: What Matters NowThe Devon-Coterra merger seems to be less about size for its own sake and more about positioning for a maturing shale landscape. Yes, management teams touted synergies, but they were relatively small, $1 billion of synergies on a merger over $50 billion. There also wasn’t a meaningful premium either in the pricing (less than 1%). Instead, the focus of the combination was centered on perceived complementary asset bases across the Permian, Eagle Ford, and even Marcellus as well as creating a deeper and more flexible inventory portfolio in both natural gas and oil.
The valuation implication is straightforward. The market is tilting towards companies that can demonstrate durable inventory and capital allocation flexibility, rather than simply growth potential. The Devon-Coterra transaction reflects that shift.
That flexibility is significant for a larger energy company. As drilling locations become more heterogeneous, operators are placing greater value on optionality, the ability to allocate capital across basins, benches, and development timelines. Scale, in this context, is not just about production. It is also about maintaining a multi-year runway of economically viable drilling locations. This task is not as easy as it used to be. It will be getting harder going forward. The latest Dallas Fed Survey suggests that break even prices for typical undeveloped wells in the Permian need to be around $67 per barrel. Devon’s and Coterra’s merger projections were assuming a lower price than that - closer to $60 per barrel. At first glance, that comparison suggests that undeveloped wells won’t be economical. However, not all undeveloped wells are “typical”. Enverus just released analysis suggesting that there are around 55,000 locations in the Permian with sub-$50 per barrel breakeven prices. This is more than double any other basin in North America. Devon and Coterra’s boards appear to be betting that their acreage has its fair share of those locations in their portfolio so that they can churn out profitable wells for years to come.
Short-Term Price Expectations Are Creating Friction, Not Stopping DealsWhile consolidation remains a clear trend, near-term price expectations are influencing how transactions are negotiated. According to the Dallas Fed Energy Survey, large operators (meaning companies with over 10,000 barrels per day of production) continue to plan around conservative oil price assumptions, generally in the $60 range. This is below even longer term 2030 strip prices which are closer to $65 per barrel.
One consequence of this dynamic has widened bid/ask spreads in the M&A market. Buyers are underwriting deals based on disciplined price decks, while sellers are reluctant to transact at what may appear to be cyclical lows.
The result tends towards slower deal execution but not reduced interest. Strategic transactions continue to move forward when asset quality, particularly inventory depth and location, justifies the valuation. In that sense, price volatility is shaping timing, but not direction.
Shale Maturity Is Reshaping Growth StoriesUnderlying these valuation aspects is a more fundamental reality: U.S. shale is maturing. The EIA’s Short-Term Energy Outlook indicates that production growth is slowing, even as efficiency gains continue. This reflects the natural progression of a resource base that has been extensively developed over the past decade.
The Permian remains the centerpiece of U.S. oil production, but even there, operators are increasingly developing secondary benches and managing parent-child well interactions. The Eagle Ford, meanwhile, represents a more mature, stable production base, with lower growth but strong cash flow characteristics. These are not signals of abundance, but of scarcity.
I mentioned earlier that there are tens of thousands of valuable locations left, chiefly in the Permian Basin. However, the distribution of that inventory matters. Not all locations are equal, and the highest-quality drilling opportunities are increasingly concentrated among larger operators with contiguous acreage positions which feeds the valuation story toward an inventory quality and sustainability narrative.
"He’s Not Done Yet!” - More Deal Activity To Come?Taken together, these trends point toward continued consolidation. As shale plays age, the number of high-quality drilling locations per company declines. At the same time, the operational benefits of scale become more pronounced.
The result is an industry that is structurally inclined toward fewer, larger operators. The Devon-Coterra merger is one example, but it is unlikely to be the last. Mid-cap and large-cap independents with overlapping or complementary assets remain logical candidates for further consolidation. The latest Dallas Fed survey agrees. They asked participants regarding consolidation among the thirty or so remaining publicly traded E&P independents. Most respondents thought there was a market appetite for several more mergers and acquisitions amongst this group to take place before 2030.
Speaking of appetites…I am reminded of one of my favorite 80’s movie scenes in The Great Outdoors. When Chet (played by the late great John Candy) believes he finished his Old 96er steak, the chef blurts out “He’s not done yet!” and hilarity ensues. Thank goodness there is more than just fat and gristle left on the upstream market’s plate.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Permian Resources (PR - Free Report) , which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, could be a great candidate to consider.
This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 27.74%.
For the most recent quarter, Permian Resources was expected to post earnings of $0.28 per share, but it reported $0.37 per share instead, representing a surprise of 32.14%. For the previous quarter, the consensus estimate was $0.3 per share, while it actually produced $0.37 per share, a surprise of 23.33%.
Price and EPS Surprise
For Permian Resources, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Permian Resources has an Earnings ESP of +1.32% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #1 (Strong Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on May 6, 2026.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Wall Street expects a year-over-year decline in earnings on lower revenues when Permian Resources (PR - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 6. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -11.9%.
Revenues are expected to be $1.37 billion, down 0.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 12.06% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Permian Resources?For Permian Resources, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +4.73%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination indicates that Permian Resources will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Permian Resources would post earnings of $0.28 per share when it actually produced earnings of $0.37, delivering a surprise of +32.14%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Permian Resources appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Oil and Gas - Exploration and Production - United States industry, California Resources Corporation (CRC - Free Report) , is soon expected to post earnings of $0.83 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -22.4%. This quarter's revenue is expected to be $902.27 million, down 1.1% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for California Resources has been revised 46.5% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #1 (Strong Buy), makes it difficult to conclusively predict that California Resources will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Wall Street expects a year-over-year increase in earnings on higher revenues when W&T Offshore (WTI - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on May 7, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis independent oil and gas company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +84.6%.
Revenues are expected to be $136.98 million, up 5.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 41.03% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for W&T?For W&T, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +185.72%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that W&T will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that W&T would post a loss of$0.09 per share when it actually produced a loss of -$0.14, delivering a surprise of -55.56%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
W&T appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAmong the stocks in the Zacks Oil and Gas - Exploration and Production - United States industry, Permian Resources (PR - Free Report) , is soon expected to post earnings of $0.38 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -9.5%. This quarter's revenue is expected to be $1.39 billion, up 1% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Permian Resources has been revised 10.1% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.32%, reflecting a higher Most Accurate Estimate.
When combined with a Zacks Rank of #1 (Strong Buy), this Earnings ESP indicates that Permian Resources will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Investors might want to bet on Permian Resources (PR - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Permian Resources, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsThe company is expected to earn $0.38 per share for the current quarter, which represents a year-over-year change of -9.5%.
The Zacks Consensus Estimate for Permian Resources has increased 10.12% over the last 30 days, as three estimates have gone higher while two have gone lower.
Current-Year Estimate RevisionsFor the full year, the earnings estimate of $1.92 per share represents a change of +34.3% from the year-ago number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Permian Resources. Over the past month, seven estimates have moved higher compared to two negative revisions, helping the consensus estimate increase 20.49%.
Favorable Zacks RankThe promising estimate revisions have helped Permian Resources earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineWhile strong estimate revisions for Permian Resources have attracted decent investments and pushed the stock 5.1% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
Key Takeaways Permian Resources to report Q1 results on May 6, with EPS seen at 38 cents on $1.4B revenues.PR's production is expected to rise 11.5% YoY, with better gas marketing and hedges aiding realizations.PR faces macro uncertainty, volatile gas prices and inflation that may limit margins and upside. Permian Resources Corporation (PR - Free Report) is set to release first-quarter 2026 results on May 6. The bottom-line estimate for the to-be-reported quarter is pegged at a profit of 38 cents on revenues of $1.4 billion.
Let us delve into the factors that might have influenced this Midland, TX-based oil and gas exploration and production company’s results in the quarter. Before diving in, it is important to consider how PR performed last quarter.
Highlights of Q4 Earnings & Surprise HistoryIn the last reported quarter, Permian Resources posted adjusted net income per share of 37 cents, which beat the Zacks Consensus Estimate of 28 cents. The bottom line also increased from the year-ago quarter’s reported figure of 36 cents, backed by a rise in production volumes. However, PR’s revenues of $1.2 billion missed the Zacks Consensus Estimate by 9%.
The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters, were in line in one and fell short in one, resulting in an average surprise of 12.7%.
This is depicted in the graph below:
PR’s Trend in Estimate RevisionThe Zacks Consensus Estimate for first-quarter 2026 earnings has seen three upward revisions and two downside movements over the past 30 days. The estimated figure indicates a 9.5% decline year over year. The Zacks Consensus Estimate for revenues implies year-over-year growth of 1%.
Factors to Consider Ahead of PR’s Q1 ReleaseThe West Texas oil and gas operator makes money by exploring for, developing and producing oil and liquids-rich natural gas in the Permian Basin, then selling those hydrocarbons into domestic and international energy markets. PR’s revenues are likely to have increased in the quarter to be reported. The Zacks Consensus Estimate for first-quarter revenues is up from the year-ago quarter’s $1.38 billion. Based on our estimate, the company's total average daily net production is projected to rise 11.5% year over year, reaching 411,443 barrels of oil equivalent. The company provided guidance to grow its production by about 5% in 2026 on lower capital, highlighting improved capital efficiency and lower breakevens. Additionally, improved gas marketing and reduced WAHA exposure are expected to have enhanced realizations, while a strong hedge position provides downside protection. Consistent well productivity, inventory depth and accretive bolt-on acquisitions further underpin sustainable free cash flow per share growth, positioning the company well for upside versus expectations in the to-be-reported quarter.
Adding to the bearish outlook, macro uncertainty, including supply disruptions in oil markets and volatile gas pricing, may weigh on realizations. Management flagged a potentially “bumpy” gas environment in 2026, which could impact near-term revenues despite mitigation efforts. Inflationary pressures on non-D&C CapEx and limited deflation in infrastructure costs may have constrained the margin upside in the quarter to be reported. Additionally, a disciplined approach to growth and capital allocation, while positive long term, could limit near-term production upside versus more aggressive peers. Any operational variability or weaker commodity prices could have therefore resulted in earnings falling short of expectations.
What Does Our Model Say About PR?The proven Zacks model predicts an earnings beat for Permian Resources this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. This is exactly the case here.
PR’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is +1.32%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PR’s Zacks Rank:PR currently sports a Zacks Rank #1.
Other Stocks to ConsiderHere are some other firms from the energy space that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
Shell plc (SHEL - Free Report) has an Earnings ESP of +3.56% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Valued at around $252 billion, SHEL stock has gained 36.6% in a year. Shell is one of the primary oil supermajors with operations that span almost every corner of the globe. The company participates in almost every aspect related to energy — from oil production to refining and marketing. The firm is scheduled to release earnings on May 7. The Zacks Consensus Estimate for Shell’s 2026 earnings indicates 58.3% year-over-year growth.
Targa Resources Corp. (TRGP - Free Report) has an Earnings ESP of +0.77% and a Zacks Rank #3 at present. The firm is scheduled to release earnings on May 7. Valued at around $54.6 billion, Targa Resources stock has surged 60.6% in a year.
The company is a premier energy infrastructure company that provides integrated midstream services in North America and derives its revenues from gathering, compressing, treating, processing and selling natural gas. The Zacks Consensus Estimate for Targa Resources’ 2026 earnings indicates 21.6% year-over-year growth.
W&T Offshore, Inc. (WTI - Free Report) has an Earnings ESP of +185.72% and a Zacks Rank #3 at present. The firm is scheduled to release earnings on May 7. Valued at around $614.5 million, WTI stock has soared 259.1% in a year.
W&T Offshore is a leading oil and natural gas explorer with operations primarily focused on resources located off the coast of the Gulf of America. The Zacks Consensus Estimate for W&T Offshore’s 2026 earnings indicates 40.5% year-over-year growth.
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 June 30, 2026 to shareholders of record as of June 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 500,000 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.
MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its first quarter 2026 financial and operational results and revised 2026 guidance.
Recent Financial and Operational Highlights
Reported total average production of 412.9 MBoe/d, including 192.3 MBbls/d of oil, 103.3 MBbls/d of NGLs and 703.0 MMcf/d of natural gas Announced cash capital expenditures of $466 million, cash provided by operating activities of $815 million and adjusted free cash flow1 of $513 million Reduced D&C costs to ~$685 per lateral foot, representing a 6% reduction compared to 2025 results Demonstrated continued bolt-on and ground game success, executing on ~40 transactions for $205 million Declared quarterly base dividend of $0.16 per share Increased mid-point of full year guidance for oil production by 3.5 MBbls/d to 192.5 MBbls/d Received investment grade credit ratings from S&P and Moody’s and maintained strong balance sheet with leverage1 of ~0.8x Completed simplification of Permian Resources’ corporate structure to further enhance peer-leading shareholder alignment Continue to prioritize flexibility to respond quickly to range of market conditions Successfully accelerated first quarter crude oil production and anticipate modest acceleration of production and capital in the second quarter Maintain significant flexibility to respond to market conditions in the second half of 2026 and beyond Management Commentary
“We delivered a strong first quarter across the board, with record-low D&C costs per foot, 2% oil production growth quarter-over-quarter and more than $500 million of free cash flow,” said Will Hickey, Co-CEO of Permian Resources. “This performance highlights our ability to drive higher production and free cash flow per share, while continuing to lower costs.”
“Since inception, Permian Resources has generated consistent free cash flow per share growth throughout cycles,” said James Walter, Co-CEO of Permian Resources. “This has been driven by a combination of lowering costs, executing accretive acquisitions and delivering high-return organic growth. Going forward, our business plan remains the same, and we'll continue to leverage these unique advantages to drive outsized returns for our investors.”
Financial and Operational Results
During the quarter, average daily crude oil production was 192,349 barrels of oil per day (“Bbls/d”), a 2% increase compared to the prior quarter. Reported NGL and natural gas volumes were 103,338 Bbls/d and 702,979 Mcf/d, respectively. Total production was 412,850 barrels of oil equivalent per day (“Boe/d”). During the first quarter, production exceeded expectations due to strong runtime and new well performance, in addition to certain steps the Company took to accelerate incremental production in March such as increased workover activity.
The Company continues to reduce well costs on a per lateral foot basis through continued operational efficiencies. For the first quarter, drilling and completion costs per lateral foot were approximately $685, or a 2% reduction from the previous quarter. Total cash capital expenditures for the first quarter were $466 million.
Realized prices for the quarter were $70.91 per barrel of oil, $16.60 per barrel of NGL and $0.10 per Mcf of natural gas. The Company continues to realize the positive impact from its improved natural gas transportation portfolio, with unhedged realized natural gas prices reflecting a $1.21 per Mcf premium to Waha pricing during the quarter. Permian Resources’ natural gas hedges further improved realizations to $1.33 per Mcf, or a $2.44 per Mcf premium to Waha.
The Company’s current firm transportation capacity and operational flexibility have provided it the ability to successfully navigate the volatile Waha gas environment, while minimizing the impact to oil production. Permian Resources expects its natural gas realized prices to continue to benefit over time through its growing firm transportation capacity, which will provide over 700 MMcf/d exposed to the Gulf Coast and DFW markets in 2027.
During the quarter, total controllable cash costs (LOE, GP&T and cash G&A) were $7.32 per Boe. First quarter LOE was $5.19 per Boe, GP&T was $1.36 per Boe and cash G&A was $0.77 per Boe.
For the first quarter, Permian Resources generated net cash provided by operating activities of $815 million, adjusted operating cash flow1 of $979 million and adjusted free cash flow1 of $513 million. Adjusted diluted shares1 outstanding were 852.3 million for the three months ended March 31, 2026.
2026 Operational Plan Update
Given higher crude prices in March, the Company reacted quickly to increase oil production during the first quarter. In the second quarter, Permian Resources expects to continue to accelerate production and anticipates second quarter oil production and capital expenditures to be modestly higher than the first quarter as a result. If negative Waha prices persist, the Company anticipates lower natural gas and NGL volumes in the second quarter.
For the second half of 2026, the Company retains significant operational flexibility to maximize free cash flow in 2026 and 2027. In the event of prolonged higher crude prices, Permian Resources anticipates that maintaining its current number of rigs and completion crews would generate capital efficient production growth. The Company maintains equal flexibility to reduce activity and deliver a similar level of production and capital as the first quarter, in the event the macro environment weakens.
Based on recent results and current outlook, Permian Resources has increased its full year 2026 oil production target by 3.5 MBbls/d to 192.5 MBbls/d at the mid-point of guidance. There are no further changes to the Company’s guidance ranges.
“Today, our team is responding quickly to the current environment to increase oil production and free cash flow. Going forward, Permian Resources maintains maximum operational flexibility and will continue to swiftly react to the changing macro environment,” said Will Hickey, Co-CEO. "I would like to thank our operations team for their hard work and dedication to execute a plan that maximizes shareholder value in a period of significant volatility."
Improving PR's Fortress Balance Sheet
Permian Resources continues to enhance its balance sheet strength, receiving investment grade credit ratings, increasing liquidity and reducing debt. Permian Resources has now achieved investment grade ratings from all three rating agencies. In March, S&P upgraded Permian Resources to BBB-, and in April Moody’s upgraded the Company to Baa3. This follows the Company’s initial investment grade credit rating from Fitch, which upgraded Permian Resources to BBB- in July 2025. With investment grade credit ratings from all three agencies, Permian Resources expects enhanced access to capital throughout market cycles and a reduced cost of capital.
On April 30, 2026, the Company entered into a new five-year revolving credit facility. Elected commitments under the new credit facility increased to $3.0 billion from $2.5 billion under the Company’s prior credit facility. The new revolving credit facility provides for no security or collateral, reduced interest expense and fees and more attractive covenants.
On April 15, 2026, Permian Resources redeemed $550 million in principal of legacy Earthstone 8.00% Senior Notes due 2027. Since year-end 2024, Permian Resources has reduced total debt by approximately $1.2 billion.
Corporate Simplification and Continued Peer-Leading Shareholder Alignment
Peer-leading shareholder alignment has been a priority for Permian Resources since its formation, and the Company has taken significant steps year-to-date to enhance this strength. During the first quarter, the Company’s remaining Class C shareholders converted their shares to Class A shares. As a result, the Company’s corporate structure is now a traditional C-Corp. with a single share class structure, simplifying its capital structure and further improving shareholder alignment.
The Company also announced the recent elimination of its sponsor ownership. Since inception, Permian Resources has successfully partnered with its private equity shareholders to monetize or distribute over 300 million shares of common stock, reducing the combined disclosed sponsor ownership from approximately 45% in 2023 to 0% today.
"Since inception, we have made tremendous progress towards simplifying our corporate structure and reducing our sponsor ownership, while at the same time generating leading shareholder returns," said James Walter, Co-CEO. "These actions have made our business more transparent, more aligned with our shareholders and even better positioned to continue creating outsized returns for our investors."
Shareholder Returns
Permian Resources announced today that its Board of Directors declared the Company’s second quarter 2026 base 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 June 30, 2026 to shareholders of record as of June 16, 2026. The Company’s base dividend represents an annualized yield of 2.9% as of May 5, 2026.
Quarterly Report on Form 10-Q
Permian Resources’ financial statements and related footnotes will be available in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, which is expected to be filed with the U.S. Securities and Exchange Commission on May 7, 2026.
Conference Call and Webcast
Permian Resources will host an earnings conference call on Thursday, May 7, 2026, at 9:00 a.m. Central (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (800) 715-9871 (Conference ID: 1442298) at least 15 minutes prior to the start of the call or via the internet at www.permianres.com. A replay of the call will be available on the Company’s website or by phone at (800) 770-2030 (Passcode: 1442298) for a 14-day period following the call.
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 500,000 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.
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “goal,” “plan,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.
Factors that could cause results to differ from those projected or assumed in any forward-looking statements include, but are not limited to:
volatility of oil, NGL and natural gas prices or a prolonged period of low oil, NGL or natural gas prices and the effects of actions by, or disputes among or between, members of the Organization of Petroleum Exporting Countries, such as Iran, Saudi Arabia and Venezuela, and other oil and natural gas producing countries, such as the United Arab Emirates and Russia, with respect to production levels or other matters related to the price of oil, NGLs and natural gas; political and economic conditions and events in or affecting other producing regions or countries, including the Middle East, Russia, Eastern Europe, Africa and South America, including recent developments in and around Iran; uncertainty inherent in estimating oil, NGL and natural gas reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; our business strategy and future drilling plans; our reserves and our ability to replace the reserves we produce through drilling and property acquisitions; our drilling prospects, inventories, projects and programs, including the timing and amount of our future production of oil, NGLs and natural gas and the cost of developing or operating our properties; our financial strategy, return of capital program, leverage, liquidity and capital required for our development program; our realized oil, NGL and natural gas prices; our ability to identify, complete and effectively integrate acquisitions of properties, or businesses; our hedging strategy and results; competition for assets, materials, people and capital, which can be exacerbated by supply chain disruptions, including as a result of tariffs or other changes in trade policy or international conflict; the geographic concentration of our operations and/or consolidated in the oil and natural gas industry in the areas in which we operate and otherwise; our ability to obtain permits and governmental approvals; our compliance with government regulations, including those related to environmental, health and safety regulations and liabilities thereunder; the marketing and transportation of our oil, NGLs and natural gas; general economic, market and business conditions, including as it relates to credit and capital markets; environmental and climate related risks, including seasonal weather conditions; changes in the financial strength of counterparties to our credit agreement and hedging contracts; midstream capacity constraints and potential interruptions in production, including from limits to the build out of midstream infrastructure; our ability to make dividend payments, distributions and share repurchases; changes to tax laws or interpretations thereof and the impact of such changes on us; technological advancement, including artificial intelligence and its application in our industry; security threats, including evolving cybersecurity risks such as those involving unauthorized access, denial-of-service attacks, third-party service provider failures, malicious software, data privacy breaches by employees, insiders or other with authorized access, cyber or phishing-attacks, ransomware, social engineering, physical breaches or other actions; risks relating to our sustainability initiatives; our plans, objectives, expectations and intentions contained in this press release that are not historical; and the other risk factors described in our most recent Annual Report on Form 10-K, and any updates to those factors set forth in our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Reserve engineering is a process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data, and price and cost assumptions made by reserve engineers. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil and natural gas that are ultimately recovered.
Should one or more of the risks or uncertainties described in this press release occur, or should any underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue.
Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
1) Adjusted Operating Cash Flow, Adjusted Free Cash Flow, Adjusted Diluted Weighted Average Shares Outstanding and Net Debt-to-LQA EBITDAX (also referred to as “leverage” in this press release) are non-GAAP financial measures. See “Non-GAAP Financial Measures” included within the Appendix of this press release for related disclosures and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP.
Details of our revised 2026 operational and financial guidance are presented below:
2026 FY Guidance
(Revised)
Net average daily production (Boe/d)
400,000
—
430,000
Net average daily oil production (Bbls/d)
190,000
—
195,000
Production costs
Total controllable cash costs
$7.15
—
$8.15
Lease operating expenses ($/Boe)
~$5.45
Gathering, processing and transportation expenses ($/Boe)
~$1.40
Cash general and administrative ($/Boe)(1)
~$0.80
Severance and ad valorem taxes (% of revenue)
6.5%
—
8.5%
Total cash capital expenditure program ($MM)
$1,750
—
$1,950
Operated drilling program
TILs (gross)
~250
Average working interest
75% - 80%
Average lateral length (feet)
~11,000
(1) Excludes stock-based compensation.
Permian Resources Corporation
Operating Highlights
Three Months Ended March 31,
2026
2025
Net revenues (in thousands):
Oil sales
$
1,227,594
$
1,109,771
NGL sales
154,393
185,022
Natural gas sales
(18,504
)
81,658
Purchased gas sales, net
24,663
—
Oil and gas sales
$
1,388,146
$
1,376,451
Net production:
Oil (MBbls)
17,311
15,747
NGL (MBbls)
9,300
7,741
Natural gas (MMcf)
63,268
60,605
Total (MBoe)(1)
37,156
33,589
Average daily net production:
Oil (Bbls/d)
192,349
174,967
NGL (Bbls/d)
103,338
86,010
Natural gas (Mcf/d)
702,979
673,388
Total (Boe/d)(1)
412,850
373,209
Average sales prices:
Oil (per Bbl)
$
70.91
$
70.48
Effect of derivative settlements on average price (per Bbl)
(2.81
)
0.97
Oil including the effects of hedging (per Bbl)
$
68.10
$
71.45
NGL (per Bbl)
$
16.60
$
23.90
Natural gas (per Mcf)
$
(0.29
)
$
1.35
Effect of derivative settlements on average price (per Mcf)
1.23
0.10
Effect of purchased gas sales on average price (per Mcf)
0.39
—
Natural gas including the effects of hedging (per Mcf)
$
1.33
$
1.45
Permian Resources Corporation
Operating Expenses
Three Months Ended March 31,
2026
2025
Operating costs (in thousands):
Lease operating expenses
$
192,882
$
179,627
Severance and ad valorem taxes
101,312
107,993
Gathering, processing and transportation expenses
50,639
46,650
Operating cost metrics:
Lease operating expenses (per Boe)
$
5.19
$
5.35
Severance and ad valorem taxes (% of revenue)
7.3
%
7.8
%
Gathering, processing and transportation expenses (per Boe)
$
1.36
$
1.39
Permian Resources Corporation
Consolidated Statements of Operations (unaudited)
(in thousands, except per share data)
Three Months Ended March 31,
2026
2025
Operating revenues
Oil and gas sales
$
1,388,146
$
1,376,451
Operating expenses
Lease operating expenses
192,882
179,627
Severance and ad valorem taxes
101,312
107,993
Gathering, processing and transportation expenses
50,639
46,650
Depreciation, depletion and amortization
526,288
474,203
General and administrative expenses
43,772
43,056
Impairment and abandonment expense
2,011
5,209
Exploration and other expenses
3,997
15,250
Total operating expenses
920,901
871,988
Income from operations
467,245
504,463
Other income (expense)
Interest expense
(67,020
)
(73,839
)
Loss on extinguishment of debt
—
(5,826
)
Net gain (loss) on derivative instruments
(339,924
)
57,731
Other income (expense)
3,579
8,368
Total other income (expense)
(403,365
)
(13,566
)
Income before income taxes
63,880
490,897
Income tax expense
(13,486
)
(100,334
)
Net income
50,394
390,563
Less: Net income attributable to noncontrolling interest
(6,774
)
(61,265
)
Net income attributable to Class A Common Stock
$
43,620
$
329,298
Income per share of Class A Common Stock:
Basic
$
0.05
$
0.47
Diluted
$
0.05
$
0.44
Weighted average Class A Common Stock outstanding:
Basic
812,208
704,035
Diluted
827,962
748,197
Permian Resources Corporation
Consolidated Balance Sheets (unaudited)
(in thousands, except share and per share amounts)
March 31, 2026
December 31, 2025
ASSETS
Current assets
Cash and cash equivalents
$
170,780
$
153,690
Accounts receivable, net
932,874
840,653
Derivative instruments
46,226
279,725
Prepaid and other current assets
34,346
38,075
Total current assets
1,184,226
1,312,143
Property and Equipment
Oil and natural gas properties, successful efforts method
Unproved properties
2,005,782
1,933,409
Proved properties
22,089,152
21,484,903
Accumulated depreciation, depletion and amortization
(7,688,164
)
(7,168,925
)
Total oil and natural gas properties, net
16,406,770
16,249,387
Other property and equipment, net
57,164
57,051
Total property and equipment, net
16,463,934
16,306,438
Noncurrent assets
Operating lease right-of-use assets
139,458
132,764
Other noncurrent assets
206,832
160,840
TOTAL ASSETS
$
17,994,450
$
17,912,185
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses
$
1,433,675
$
1,453,610
Operating lease liabilities
82,755
79,496
Derivative instruments
162,322
—
Other current liabilities
129,084
144,726
Total current liabilities
1,807,836
1,677,832
Noncurrent liabilities
Long-term debt, net
3,546,370
3,545,598
Asset retirement obligations
169,854
166,847
Deferred income taxes
1,043,265
893,463
Operating lease liabilities
58,473
55,102
Other noncurrent liabilities
39,835
39,460
Total liabilities
6,665,633
6,378,302
Shareholders’ equity
Common stock, $0.0001 par value, 1,500,000,000 shares authorized:
Class A: 842,372,948 shares issued and 837,194,265 shares outstanding at March 31, 2026 and 757,854,120 shares issued and 751,746,410 shares outstanding at December 31, 2025
84
76
Class C: No shares issued and outstanding at March 31, 2026 and 84,378,125 shares issued and outstanding at December 31, 2025
—
8
Additional paid-in capital
9,853,585
8,710,698
Retained earnings (accumulated deficit)
1,475,148
1,567,500
Total shareholders' equity
11,328,817
10,278,282
Noncontrolling interest
—
1,255,601
Total equity
11,328,817
11,533,883
TOTAL LIABILITIES AND EQUITY
$
17,994,450
$
17,912,185
Permian Resources Corporation
Consolidated Statements of Cash Flows (unaudited)
(in thousands)
Three Months Ended March 31,
2026
2025
Cash flows from operating activities:
Net income
$
50,394
$
390,563
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization
526,288
474,203
Stock-based compensation expense
16,202
16,929
Impairment and abandonment expense
2,011
5,209
Deferred tax expense
13,019
97,594
Non-cash portion of derivative (gain) loss
369,297
(36,423
)
Amortization of debt issuance costs, discount and premium
1,746
2,139
Loss on extinguishment of debt
—
5,826
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable
(87,283
)
14,177
(Increase) decrease in prepaid and other assets
17,781
(8,853
)
Increase (decrease) in accounts payable and other liabilities
(94,379
)
(63,332
)
Net cash provided by operating activities
815,076
898,032
Cash flows from investing activities:
Acquisition of oil and natural gas properties, net
(204,865
)
(35,401
)
Drilling and development capital expenditures
(466,230
)
(500,732
)
Purchases of other property and equipment
(1,952
)
(1,672
)
Proceeds from sales of oil and natural gas properties
9,042
175,989
Net cash used in investing activities
(664,005
)
(361,816
)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility
50,000
—
Repayment of borrowings under revolving credit facility
(50,000
)
—
Redemption of senior notes
—
(175,000
)
Debt issuance and redemption costs
(293
)
(17,334
)
Proceeds from exercise of stock options
1,227
21
Dividends paid
(134,915
)
(106,070
)
Distributions paid to noncontrolling interest owners
—
(14,940
)
Net cash used in financing activities
(133,981
)
(313,323
)
Net increase (decrease) in cash, cash equivalents and restricted cash
17,090
222,893
Cash, cash equivalents and restricted cash, beginning of period
153,690
479,343
Cash, cash equivalents and restricted cash, end of period
$
170,780
$
702,236
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), our earnings release contains non-GAAP financial measures as described below.
Adjusted EBITDAX
Adjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDAX as net income attributable to Class A Common Stock before net income attributable to noncontrolling interest, interest expense, income taxes, depreciation, depletion and amortization, impairment and abandonment expense, loss on extinguishment of debt, non-cash gains or losses on derivatives, stock-based compensation, exploration and other expenses and other non-recurring items. Adjusted EBITDAX is not a measure of net income as determined by GAAP.
Our management believes Adjusted EBITDAX is useful as it allows them to more effectively evaluate our operating performance and compare the results of our operations from period to period and against our peers, without regard to our financing methods or capital structure. We exclude the items listed above from net income in arriving at Adjusted EBITDAX because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDAX should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of our operating performance or liquidity. Certain items excluded from Adjusted EBITDAX are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDAX. Our presentation of Adjusted EBITDAX should not be construed as an inference that our results will be unaffected by unusual or nonrecurring items. Our computations of Adjusted EBITDAX may not be comparable to other similarly titled measures of other companies.
The following table presents a reconciliation of Adjusted EBITDAX to net income, which is the most directly comparable financial measure calculated and presented in accordance with GAAP:
Three Months Ended
(in thousands)
3/31/2026
12/31/2025
9/30/2025
6/30/2025
3/31/2025
Adjusted EBITDAX reconciliation to net income:
Net income attributable to Class A Common Stock
$
43,620
$
339,505
$
59,234
$
207,137
$
329,298
Net income attributable to noncontrolling interest
6,774
42,386
22,227
37,884
61,265
Interest expense
67,020
67,067
69,386
72,770
73,839
Income tax expense
13,486
33,965
87,394
62,486
100,334
Depreciation, depletion and amortization
526,288
524,979
526,915
506,410
474,203
Impairment and abandonment expense
2,011
379
2,251
146
5,209
Loss on extinguishment of debt
—
—
264,294
—
5,826
Non-cash derivative (gain) loss
369,297
(79,493
)
(35,307
)
(17,256
)
(36,423
)
Stock-based compensation expense(1)
15,163
14,031
17,435
19,293
16,199
Exploration and other expenses
3,997
6,799
4,933
5,060
15,250
Adjusted EBITDAX
$
1,047,656
$
949,618
$
1,018,762
$
893,930
$
1,045,000
Net Debt-to-LQA EBITDAX
Net debt-to-LQA EBITDAX, also referred to as leverage, is a non-GAAP financial measure. We define net debt as total debt, net, plus unamortized debt discount, premium and issuance costs on our senior notes minus cash and cash equivalents.
We define net debt-to-LQA EBITDAX as net debt (defined above) divided by Adjusted EBITDAX (defined and reconciled in the section above) for the three months ended March 31, 2026, on an annualized basis. We refer to this metric to show trends that investors may find useful in understanding our ability to service our debt. This metric is widely used by professional research analysts, including credit analysts, in the valuation and comparison of companies in the oil and gas exploration and production industry. The following table presents a reconciliation of net debt to total debt, net and the calculation of net debt-to-LQA EBITDAX for the period presented:
($ in thousands)
March 31, 2026
Total debt, net
$
3,546,370
Unamortized debt discount, premium and issuance costs on senior notes
28,630
Total debt
3,575,000
Less: cash and cash equivalents
(170,780
)
Net debt (Non-GAAP)
3,404,220
LQA EBITDAX(1)
$
4,190,624
Net debt-to-LQA EBITDAX
0.8 x
(1) Represents adjusted EBITDAX (defined and reconciled in the section above) for the three months ended March 31, 2026, on an annualized basis.
Adjusted Shares
Adjusted basic and diluted weighted average shares outstanding (“Adjusted Basic and Diluted Shares”) are non-GAAP financial measures defined as basic and diluted weighted average shares outstanding adjusted to reflect the weighted average shares of our Class C Common Stock outstanding, which were fully converted to Class A Common Stock during the three months ended March 31, 2026.
Our Adjusted Basic and Diluted Shares provide a comparable per share measurement when presenting results such as adjusted free cash flow and adjusted net income that include the interests of both net income attributable to Class A Common Stock and the net income attributable to our noncontrolling interest that was fully eliminated during the three months ended March 31, 2026. Adjusted Basic and Diluted Shares are used in calculating several metrics that we use as supplemental financial measurements in the evaluation of our business.
The following table presents a reconciliation of Adjusted Basic and Diluted Shares to basic and diluted weighted average shares outstanding, which are the most directly comparable financial measures calculated and presented in accordance with GAAP:
Three Months Ended March 31,
(in thousands)
2026
2025
Basic weighted average shares of Class A Common Stock outstanding
812,208
704,035
Weighted average shares of Class C Common Stock outstanding
24,343
99,594
Adjusted basic weighted average shares outstanding
836,551
803,629
Basic weighted average shares of Class A Common Stock outstanding
812,208
704,035
Add: Dilutive effects of Convertible Senior Notes
—
29,753
Add: Dilutive effects of equity awards
15,754
14,409
Diluted weighted average shares of Class A Common Stock outstanding
827,962
748,197
Weighted average shares of Class C Common Stock
24,343
99,594
Adjusted diluted weighted average shares outstanding
852,305
847,791
Adjusted Operating Cash Flow and Adjusted Free Cash Flow
Adjusted operating cash flow and adjusted free cash flow are supplemental non-GAAP financial measures used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define adjusted operating cash flow as net cash provided by operating activities adjusted to remove changes in working capital, other non-recurring charges, and estimated tax distributions to our non-controlling interest owners prior to its elimination during the three months ended March 31, 2026. Adjusted operating cash flows is reduced by total cash capital expenditures to arrive at adjusted free cash flows.
Our management believes adjusted operating cash flow and adjusted free cash flow are useful indicators of the Company’s ability to internally fund its future exploration and development activities, to service its existing level of indebtedness or incur additional debt, without regard to the timing of settlement of either operating assets and liabilities, other non-recurring costs or estimated tax distributions to noncontrolling interest owners after funding its capital expenditures paid for the period. The Company believes that these measures, as so adjusted, present meaningful indicators of the Company’s actual sources and uses of capital associated with its operations conducted during the applicable period. Our computation of adjusted operating cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies. Adjusted operating cash flow and adjusted free cash flow should not be considered as alternatives to, or more meaningful than, net cash provided by operating activities as determined in accordance with GAAP or as indicators of our operating performance or liquidity.
Adjusted operating cash flow and adjusted free cash flow are not financial measures that are determined in accordance with GAAP. Accordingly, the following table presents a reconciliation of adjusted operating cash flow and adjusted free cash flow to net cash provided by operating activities, which is the most directly comparable financial measure calculated and presented in accordance with GAAP:
Three Months Ended March 31,
(in thousands, except per share data)
2026
2025
Net cash provided by operating activities
$
815,076
$
898,032
Changes in working capital:
Accounts receivable
87,283
(14,177
)
Prepaid and other assets
(17,781
)
8,853
Accounts payable and other liabilities
94,379
63,332
Other non-recurring charges
—
4,749
Estimated tax distribution to noncontrolling interest owners(1)
—
(252
)
Adjusted operating cash flow
978,957
960,537
Less: total cash capital expenditures
(466,230
)
(500,732
)
Adjusted free cash flow
$
512,727
$
459,805
Adjusted diluted weighted average shares outstanding
852,305
847,791
Adjusted Net Income
Adjusted net income is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. We define adjusted net income as net income attributable to Class A Common Stock plus net income attributable to noncontrolling interest adjusted for loss on extinguishment of debt, non-cash gains or losses on derivatives, other nonrecurring charges, impairment and abandonment expense, gain/loss from the sale of long-lived assets and the related income tax adjustments for these items. Adjusted net income is not a measure of net income as determined by GAAP.
Our management believes adjusted net income is useful as it allows them to more effectively evaluate our operating performance and compare the results of our operations from period to period and against our peers by excluding certain non-cash items that can vary significantly. Adjusted net income should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of our operating performance or liquidity. Our presentation of adjusted net income should not be construed as an inference that our results will be unaffected by unusual or nonrecurring items. Our computations of adjusted net income may not be comparable to other similarly titled measures of other companies.
Adjusted net income is not a financial measure that is determined in accordance with GAAP. Accordingly, the following table presents a reconciliation of adjusted net income to net income, which is the most directly comparable financial measure calculated and presented in accordance with GAAP:
Three Months Ended March 31,
(in thousands, except per share data)
2026
2025
Net income attributable to Class A Common Stock
$
43,620
$
329,298
Net income attributable to noncontrolling interest
6,774
61,265
Loss on extinguishment of debt
—
5,826
Non-cash derivative (gain) loss
369,297
(36,423
)
Other non-recurring charges
—
4,749
Impairment and abandonment expense
2,011
5,209
Adjusted net income excluding above items
421,702
369,924
Income tax benefit (expense) attributable to the above items(1)
(85,068
)
(9,141
)
Adjusted net income
$
336,634
$
360,783
Interest on Convertible Senior Notes, net of tax
—
1,283
Adjusted Net Income - Diluted
336,634
362,066
Adjusted diluted weighted average shares outstanding (Non-GAAP)(2)
852,305
847,791
Adjusted net income per adjusted diluted share
$
0.39
$
0.43
The following table summarizes the approximate volumes and average contract prices of the hedge contracts the Company had in place as of April 30, 2026:
Permian Resources (PR - Free Report) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.00%. A quarter ago, it was expected that this company would post earnings of $0.28 per share when it actually produced earnings of $0.37, delivering a surprise of +32.14%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Permian Resources, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $1.39 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.83%. This compares to year-ago revenues of $1.38 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Permian Resources shares have added about 59.7% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for Permian Resources?While Permian Resources has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Permian Resources was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.47 on $1.53 billion in revenues for the coming quarter and $1.92 on $6.15 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the top 4% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Mach Natural Resources LP (MNR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This company is expected to post quarterly earnings of $0.53 per share in its upcoming report, which represents a year-over-year change of -22.1%. The consensus EPS estimate for the quarter has been revised 5.8% higher over the last 30 days to the current level.
Mach Natural Resources LP's revenues are expected to be $397.32 million, up 75.2% from the year-ago quarter.
For the quarter ended March 2026, Permian Resources (PR - Free Report) reported revenue of $1.39 billion, up 0.9% over the same period last year. EPS came in at $0.39, compared to $0.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.4 billion, representing a surprise of -0.83%. The company delivered an EPS surprise of +4%, with the consensus EPS estimate being $0.38.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 702,979.00 Mcf/D versus 707,364.80 Mcf/D estimated by seven analysts on average.Average daily net production - Total: 412,850.00 BOE/D versus 411,665.30 BOE/D estimated by seven analysts on average.Average daily net production - Oil: 192,349.00 BBL/D versus 189,524.70 BBL/D estimated by seven analysts on average.Average daily net production - NGL: 103,338.00 BBL/D versus the six-analyst average estimate of 104,390.50 BBL/D.Average sales prices - Gas - Including Derivative Cash Settlements: $1.33 versus the five-analyst average estimate of $1.64.Average sales prices - Oil - Including Derivative Cash Settlements: $68.10 compared to the $68.99 average estimate based on four analysts.Average sales prices - NGL - Excluding the effects of GP&T: $16.60 versus the four-analyst average estimate of $17.35.Average sales prices - Natural gas - Excluding the effects of GP&T: $-0.29 versus $0.24 estimated by three analysts on average.Average sales prices - Oil - Excluding the effects of hedging: $70.91 versus $71.74 estimated by three analysts on average.Net Revenues- Oil sales: $1.23 billion compared to the $1.19 billion average estimate based on four analysts.Net Revenues- NGL sales: $154.39 million compared to the $161.37 million average estimate based on four analysts.Net Revenues- Natural gas sales: $-18.5 million compared to the $70.06 million average estimate based on four analysts.View all Key Company Metrics for Permian Resources here>>>
Shares of Permian Resources have returned +4.8% over the past month versus the Zacks S&P 500 composite's +10.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Key Takeaways PR beat Q1 earnings estimates as production climbed to 412.9 MBoe/d on strong well performance.Permian Resources raised its 2026 oil output guidance and expects capital spending near range highs.PR cut drilling costs 6% from 2025 levels and generated $513 million in adjusted free cash flow. Permian Resources Corporation (PR - Free Report) reported first-quarter 2026 adjusted earnings of 39 cents per share, beating the Zacks Consensus Estimate of 38 cents by 3%. This outperformance was primarily driven by stronger production volumes, improved well performance, reduced downtime and continued drilling and completion efficiencies. However, the bottom line declined from the year-ago quarter’s adjusted earnings of 43 cents due to weaker NGL and natural gas realizations, along with higher operating expenses.
The company’s oil and gas sales of $1.39 billion missed the Zacks Consensus Estimate of $1.4 billion by 0.83%. However, revenues increased slightly from the year-ago quarter’s $1.38 billion, aided by a higher year-over-year contribution from oil sales (10.6%) and purchased gas sales during the quarter.
On May 6, 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 June 30, 2026, for its shareholders on record as of June 16. Management reiterated that the base dividend remains a top capital allocation priority. Beyond the base dividend, the company intends to focus on debt repayment, cash accumulation, accretive acquisitions and opportunistic share repurchases, depending on market conditions.
PR’s Production DetailsThe company reported total average production of 412.9 thousand barrels of oil equivalent per day (MBoe/d), comprising 47% oil and 72% liquids, in the first quarter, up from 373.2 MBoe/d in the year-ago period. The figure beat the Zacks Consensus Estimate of 411,665 Boe/d due to strong runtime, improved recent well performance and efforts to accelerate incremental oil volumes in March through increased workover activity. The company also accelerated oil production volumes during March.
Crude oil production averaged 192.3 thousand barrels per day (MBbls/d), up from 175 MBbls/d in the prior-year quarter. The figure beat the Zacks Consensus Estimate of 189.6 MBbls/d.
NGL production came in at 103.3 MBbls/d, up 20.1% year over year. However, it missed the Zacks Consensus Estimate by 1.01%. Meanwhile, natural gas production totaled 703 million cubic feet per day (MMcf/d), up 4.4% year over year, but missed the Zacks Consensus Estimate by 0.62%.
PR’s Price RealizationsPermian Resources’ average realized oil price was $70.91 per barrel in the first quarter, compared with $70.48 in the year-ago quarter. However, the figure missed the consensus mark of $72 per barrel.
The realized NGL price was $16.60 per barrel, down from $23.90 a year ago. Moreover, the figure missed the consensus mark of $17.35 per barrel. The company’s realized natural gas price was negative 29 cents per Mcf, in contrast to a positive $1.35 in the prior-year quarter. The figure also missed the consensus mark of 24 cents per Mcf. Including hedges and purchased gas sales, the realized natural gas price was $1.33 per Mcf, compared with $1.45 a year ago.
PR’s Costs & ExpensesTotal operating expenses in the quarter rose to $920.9 million from $872 million in the year-ago quarter. Lease operating expenses totaled $192.9 million, up from $179.6 million in the year-ago quarter. Depreciation, depletion and amortization expenses rose to $526.3 million from $474.2 million a year earlier. On a per-unit basis, Lease operating expenses increased to $5.19 per Boe from $5.35 a year ago. Gathering, processing and transportation expenses were $50.6 million, compared with $46.7 million in the prior-year period.
First-quarter drilling and completion costs were approximately $685 per lateral foot, representing a 2% reduction from the previous quarter and a 6% reduction compared with 2025 levels.
In its earnings presentation, the company highlighted record quarterly drilling and completion costs per foot, roughly 70% recycled water utilization in completion operations, and the installation of four microgrids that reduced generator counts by more than 25 and lowered electricity costs at associated well sites by roughly 30%.
PR’s Financial PositionPR generated $815.1 million of net cash provided by operating activities in the first quarter, compared with $898 million in the year-ago quarter. Adjusted operating cash flow totaled $979 million, while adjusted free cash flow came in at $513 million.
Cash capital expenditures were $466 million, down from the prior-year period’s drilling and development capital expenditures of $500.7 million. The company’s capital-efficient operating model supported strong free cash flow generation despite continued investment in development and bolt-on acquisitions.
PR’s Balance SheetAs of March 31, 2026, PR had $170.8 million in cash and cash equivalents. The company had a long-term debt of $3.5 billion, reflecting a debt-to-capitalization of 23.8%.
The company continued to improve its balance sheet strength. It received investment-grade credit ratings from S&P and Moody’s, adding to its existing Fitch rating. Subsequent to quarter-end, PR entered into a new $3 billion unsecured revolving credit facility and redeemed $550 million of legacy Earthstone 8.00% senior notes due 2027.
PR’s GuidanceThe company now expects 2026 net average daily oil production in the range of 190,000-195,000 barrels per day, reflecting an increase of roughly 2% from the previous outlook. Total net average daily production is projected in the band of 400,000-430,000 barrels of oil equivalent per day (Boe/d).
For 2026, the company anticipates total controllable cash costs in the band of $7.15-$8.15 per Boe, including lease operating expense of nearly $5.45, gathering, processing and transportation expense of around $1.40 and cash general and administrative expense of about 80 cents. Severance and ad valorem taxes are forecasted at 6.5-8.5% of revenues.
The company expects total cash capital expenditures for 2026 to be between $1.75 billion and $1.95 billion and indicated that spending will likely trend toward the upper half of the range under the current commodity-price environment. Drilling and completions spending is estimated at approximately $1.45 billion, while facilities, infrastructure, capital workover and non-operated expenditures are expected to total nearly $400 million.
Operationally, this Zacks Rank #1 (Strong Buy) company plans to run around 250 gross operated drilling rigs during the year, with average working interest projected at 75-80% and average lateral lengths of roughly 11,000 feet. Activity is expected to be concentrated primarily in New Mexico, Texas, Delaware and the Midland regions. You can see the complete list of today’s Zacks #1 Rank stocks here.
Management also expects strong pricing realizations in 2026, with realized oil prices forecast at 97-100% of West Texas Intermediate (WTI), natural gas prices anticipated at a premium of 25-75 cents per Mcf to Waha Hub pricing and NGL realizations projected at 23-25% of WTI pricing. Additionally, the company expects nearly $20 million in current income tax expense for 2026 at present strip prices, supported by stronger oil-price assumptions.
Important Earnings at a GlanceWhile we have discussed PR’s first-quarter results in detail, let us take a look at three other key reports in this space.
Houston, TX-based oil and gas equipment and services provider, Halliburton Company (HAL - Free Report) , posted first-quarter 2026 adjusted net income per share of 55 cents, beating the Zacks Consensus Estimate of 49 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line fell from the year-ago adjusted profit of 60 cents.
Halliburton reported first-quarter capital expenditure of $192 million. As of March 31, 2026, this oil and gas equipment and services company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization ratio of 39.6.
Houston, TX-based oil and gas storage and transportation company, Kinder Morgan Inc. (KMI - Free Report) , posted first-quarter 2026 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 38 cents. The bottom line increased year over year from 34 cents. The strong quarterly results can be primarily attributed to contributions from the Natural Gas Pipelines business segment.
As of March 31, 2026, KMI reported $72 million in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $29.72 billion. KMI’s project backlog was reported at $10.1 billion by the end of the first quarter. The midstream energy major added that natural gas projects comprise approximately 92% of its project backlog, with nearly 60% dedicated to supporting local distribution companies and power generation.
Fort Worth, TX-based oil and gas exploration and production company, Range Resources Corporation (RRC - Free Report) , posted first-quarter 2026 adjusted earnings of $1.52 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line also improved from the prior-year level of 96 cents. Strong quarterly results can be attributed to higher gas-equivalent production and increased natural gas price realization.
Drilling and completion expenditure totaled $130 million. An additional $5 million was spent on acreage and $4 million on infrastructure and other investments. At the end of the first quarter, Range Resources reported a total debt of $819.3 million, net of deferred financing costs.
If There's a Domestic Manufacturing Boom, These 3 Stocks Could WinPermian Resources NYSE: PR reported what executives described as a record quarter for free cash flow and operational efficiency, while emphasizing that the company is preserving flexibility amid volatile commodity markets.
On the company’s first-quarter 2026 earnings call, Co-CEO Will Hickey said Permian Resources generated free cash flow per share of $0.60, the highest level in the company’s history, and record free cash flow of more than $500 million for the quarter. Oil production averaged 192,000 barrels per day, while total production reached 413,000 barrels of oil equivalent per day, both exceeding company expectations.
Get Permian Resources alerts:
High Yield Revival: 3 Cash-Rich Dividend Payers on SaleHickey said the outperformance was driven by better-than-expected results from recent wells and reduced downtime in March, when the company added workover rigs in response to higher oil prices. He said the company accelerated oil production volumes “in response to higher oil prices in March” and is focused on bringing barrels forward into what management views as a constructive price environment.
Costs Fall as Drilling and Completion Records Improve Permian Resources reported drilling and completion costs of approximately $685 per lateral foot in the first quarter, with both drilling cost per foot and completion cost per foot setting company records. Hickey said the company drilled the fastest well in its history, averaging more than 2,500 feet per day, and delivered its longest quarterly average lateral length, with roughly one-quarter of wells exceeding 2.5 miles.
Plastic Surgery: Winners and Losers of the Proposed 10% Interest CapOn the completion side, Hickey said recycled water utilization reached about 70%, which he said lowers completion costs and can also reduce lease operating expense. The company also installed four microgrids during the quarter, eliminating more than 25 generators and reducing electricity costs on associated well sites by about 30%.
Controllable cash costs remained within 2026 guidance, with lease operating expense of $5.19 per BOE, gathering, processing and transportation expense of $1.36 per BOE, and cash general and administrative expense of $0.77 per BOE. Hickey said first-quarter LOE was unusually low, helped by mild winter conditions outside of Winter Storm Blair, and indicated the company still expects to average around the midpoint of its LOE guidance, which he cited as $5.45 per BOE.
Natural Gas Strategy Cushions Waha Weakness Management said Permian Resources continues to benefit from firm transportation and hedging arrangements as Waha natural gas prices remain weak. Hickey said the company’s realized natural gas price, including hedges, was $1.33 per Mcf in the first quarter, representing a $2.44 premium to Waha during the period.
He said roughly half of that uplift came from firm transportation agreements and the balance from existing natural gas hedges. Permian Resources currently has about 400 million cubic feet per day of firm transportation to Gulf Coast and Dallas-Fort Worth markets, which is expected to grow to more than 700 million cubic feet per day in 2027 and beyond.
In response to analyst questions, Co-CEO James Walter said the company has shut in gas wells and very high gas-oil-ratio wells that do not make economic sense in a negative gas price environment. He said those wells would return to production when economic, which management expects could occur in the second half of the year, but added that the company would continue to make decisions based on maximizing cash flow.
Investment-Grade Ratings and Capital Allocation Walter highlighted that Permian Resources has received investment-grade ratings from all three major rating agencies. He said that status lowers the company’s cost of debt and supports access to capital across cycles. The company has reduced absolute debt by about $1.2 billion since the beginning of 2025, according to Walter.
Walter said the company’s capital allocation framework remains unchanged. The base dividend is the top priority, followed by debt repayment, building cash on the balance sheet and pursuing accretive acquisitions. He said management evaluates the best risk-adjusted long-term returns among those options, including potential share repurchases, dividend increases, acquisitions or further debt reduction.
Walter also emphasized employee ownership and management alignment with shareholders. He said all employees receive common equity as part of annual compensation, officer compensation is heavily weighted toward equity and performance shares, and the co-CEOs receive no cash salary or cash bonus. Permian Resources employees own roughly 7% of the company, representing more than $1 billion in equity value, he said.
Production Flexibility and M&A Pipeline Management said second-quarter production and capital expenditures are expected to be modestly higher than in the first quarter, driven by an elevated workover program and efforts to accelerate additional wells turned to sales. Hickey said workover activity increased from roughly 30 to 40 workovers per month to closer to 70 to 90 per month.
For the second half of the year, Walter said the company is maintaining flexibility. If crude prices remain strong, Permian Resources expects to come in at the high end of both production and capital ranges using its existing rigs and equipment. If conditions soften materially, the company would expect to reduce activity and move toward the low end of those ranges.
Walter said the current midpoint of the company’s updated guidance implies 6% year-over-year production growth in 2026 compared with 2025. He added that any outcome within the current range is expected to generate higher free cash flow in 2026 than the company’s original guidance.
On acquisitions, Walter said the Delaware Basin market has become more active, with more high-quality assets potentially coming to market than in recent years. He said Permian Resources is well positioned to participate, but would only pursue transactions at the right price and where management is highly confident they would improve the existing business.
Walter concluded that the company’s business is in “a stronger position today than at any point in PR’s history,” citing its investment-grade balance sheet, simplified corporate structure, low-cost Delaware Basin operations and continued operational records.
About Permian Resources NYSE: PRPermian 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Permian Resources Right Now?Before you consider Permian Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Resources wasn't on the list.
While Permian Resources currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2026 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Permian Resources (PR - Free Report) Permian Resources Corporation, headquartered in Midland, TX, is an independent oil and gas company formed through the consolidation of Colgate Energy in 2022 and Earthstone Energy in 2023. These strategic mergers significantly expanded the company’s footprint in the Permian Basin, solidifying its presence as a major operator in one of the most productive oil regions in the United States. As of Dec. 31, 2025, Permian Resources holds about 480,000 net leasehold acres and 105,000 net royalty acres, with operations primarily spread across West Texas (67%) and New Mexico (33%). These mergers added scale and inventory depth, enhancing operational efficiency and shareholder value.
PR is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 10.25; value investors should take notice.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.83 to $1.97 per share. PR also boasts an average earnings surprise of +14.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, PR should be on investors' short list.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Permian Resources (PR - Free Report) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Permian Resources currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for PR that show why this company shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For PR, shares are up 5.68% over the past week while the Zacks Oil and Gas - Exploration and Production - United States industry is up 2.68% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.31% compares favorably with the industry's 4.12% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Permian Resources have increased 16.04% over the past quarter, and have gained 54.26% in the last year. In comparison, the S&P 500 has only moved 8.69% and 26.52%, respectively.
Investors should also pay attention to PR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. PR is currently averaging 13,930,530 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with PR.
Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost PR's consensus estimate, increasing from $1.18 to $1.98 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that PR is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Permian Resources on your short list.
Permian Resources has fundamentally improved, with stronger production growth, cost control, and capital discipline supporting a continued Buy rating. PR's operational execution excels, with unit costs dropping from $725 to $685 per lateral foot, enhancing margins alongside production growth. Leverage declined to 0.8x and liquidity improved, while bolt-on acquisitions and disciplined balance sheet management strengthened PR's strategic positioning.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Permian Resources (PR - Free Report) Permian Resources Corporation, headquartered in Midland, TX, is an independent oil and gas company formed through the consolidation of Colgate Energy in 2022 and Earthstone Energy in 2023. These strategic mergers significantly expanded the company’s footprint in the Permian Basin, solidifying its presence as a major operator in one of the most productive oil regions in the United States. As of Dec. 31, 2025, Permian Resources holds about 480,000 net leasehold acres and 105,000 net royalty acres, with operations primarily spread across West Texas (67%) and New Mexico (33%). These mergers added scale and inventory depth, enhancing operational efficiency and shareholder value.
PR is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Oils-Energy stock. PR has a Momentum Style Score of A, and shares are up 6.6% over the past four weeks.
For fiscal 2026, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.71 to $1.98 per share. PR boasts an average earnings surprise of +14.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PR should be on investors' short list.
It has been about a month since the last earnings report for Permian Resources (PR - Free Report) . Shares have added about 0.4% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Permian Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Permian Resources Q1 Earnings Beat Estimates on Strong Output, Revenues MissPermian Resources reported first-quarter 2026 adjusted earnings of 39 cents per share, beating the Zacks Consensus Estimate of 38 cents by 3%. This outperformance was primarily driven by stronger production volumes, improved well performance, reduced downtime and continued drilling and completion efficiencies. However, the bottom line declined from the year-ago quarter’s adjusted earnings of 43 cents due to weaker NGL and natural gas realizations, along with higher operating expenses.
The company’s oil and gas sales of $1.39 billion missed the Zacks Consensus Estimate of $1.4 billion by 0.83%. However, revenues increased slightly from the year-ago quarter’s $1.38 billion, aided by a higher year-over-year contribution from oil sales (10.6%) and purchased gas sales during the quarter.
On May 6, 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 June 30, 2026, for its shareholders on record as of June 16. Management reiterated that the base dividend remains a top capital allocation priority. Beyond the base dividend, the company intends to focus on debt repayment, cash accumulation, accretive acquisitions and opportunistic share repurchases, depending on market conditions.
Production DetailsThe company reported total average production of 412.9 thousand barrels of oil equivalent per day (MBoe/d), comprising 47% oil and 72% liquids, in the first quarter, up from 373.2 MBoe/d in the year-ago period. The figure beat the Zacks Consensus Estimate of 411,665 Boe/d due to strong runtime, improved recent well performance and efforts to accelerate incremental oil volumes in March through increased workover activity. The company also accelerated oil production volumes during March.
Crude oil production averaged 192.3 thousand barrels per day (MBbls/d), up from 175 MBbls/d in the prior-year quarter. The figure beat the Zacks Consensus Estimate of 189.6 MBbls/d.
NGL production came in at 103.3 MBbls/d, up 20.1% year over year. However, it missed the Zacks Consensus Estimate by 1.01%. Meanwhile, natural gas production totaled 703 million cubic feet per day (MMcf/d), up 4.4% year over year, but missed the Zacks Consensus Estimate by 0.62%.
Price RealizationsPermian Resources’ average realized oil price was $70.91 per barrel in the first quarter, compared with $70.48 in the year-ago quarter. However, the figure missed the consensus mark of $72 per barrel.
The realized NGL price was $16.60 per barrel, down from $23.90 a year ago. Moreover, the figure missed the consensus mark of $17.35 per barrel. The company’s realized natural gas price was negative 29 cents per Mcf, in contrast to a positive $1.35 in the prior-year quarter. The figure also missed the consensus mark of 24 cents per Mcf. Including hedges and purchased gas sales, the realized natural gas price was $1.33 per Mcf, compared with $1.45 a year ago.
Costs & ExpensesTotal operating expenses in the quarter rose to $920.9 million from $872 million in the year-ago quarter. Lease operating expenses totaled $192.9 million, up from $179.6 million in the year-ago quarter. Depreciation, depletion and amortization expenses rose to $526.3 million from $474.2 million a year earlier. On a per-unit basis, Lease operating expenses increased to $5.19 per Boe from $5.35 a year ago. Gathering, processing and transportation expenses were $50.6 million, compared with $46.7 million in the prior-year period.
First-quarter drilling and completion costs were approximately $685 per lateral foot, representing a 2% reduction from the previous quarter and a 6% reduction compared with 2025 levels.
In its earnings presentation, the company highlighted record quarterly drilling and completion costs per foot, roughly 70% recycled water utilization in completion operations, and the installation of four microgrids that reduced generator counts by more than 25 and lowered electricity costs at associated well sites by roughly 30%.
Financial PositionPR generated $815.1 million of net cash provided by operating activities in the first quarter, compared with $898 million in the year-ago quarter. Adjusted operating cash flow totaled $979 million, while adjusted free cash flow came in at $513 million.
Cash capital expenditures were $466 million, down from the prior-year period’s drilling and development capital expenditures of $500.7 million. The company’s capital-efficient operating model supported strong free cash flow generation despite continued investment in development and bolt-on acquisitions.
Balance SheetAs of March 31, 2026, PR had $170.8 million in cash and cash equivalents. The company had a long-term debt of $3.5 billion, reflecting a debt-to-capitalization of 23.8%.
The company continued to improve its balance sheet strength. It received investment-grade credit ratings from S&P and Moody’s, adding to its existing Fitch rating. Subsequent to quarter-end, PR entered into a new $3 billion unsecured revolving credit facility and redeemed $550 million of legacy Earthstone 8.00% senior notes due 2027.
Guidance for 2026The company now expects 2026 net average daily oil production in the range of 190,000-195,000 barrels per day, reflecting an increase of roughly 2% from the previous outlook. Total net average daily production is projected in the band of 400,000-430,000 barrels of oil equivalent per day (Boe/d).
For 2026, the company anticipates total controllable cash costs in the band of $7.15-$8.15 per Boe, including lease operating expense of nearly $5.45, gathering, processing and transportation expense of around $1.40 and cash general and administrative expense of about 80 cents. Severance and ad valorem taxes are forecasted at 6.5-8.5% of revenues.
The company expects total cash capital expenditures for 2026 to be between $1.75 billion and $1.95 billion and indicated that spending will likely trend toward the upper half of the range under the current commodity-price environment. Drilling and completions spending is estimated at approximately $1.45 billion, while facilities, infrastructure, capital workover and non-operated expenditures are expected to total nearly $400 million.
Operationally, this company plans to run around 250 gross operated drilling rigs during the year, with average working interest projected at 75-80% and average lateral lengths of roughly 11,000 feet. Activity is expected to be concentrated primarily in New Mexico, Texas, Delaware and the Midland regions.
Management also expects strong pricing realizations in 2026, with realized oil prices forecast at 97-100% of West Texas Intermediate (WTI), natural gas prices anticipated at a premium of 25-75 cents per Mcf to Waha Hub pricing and NGL realizations projected at 23-25% of WTI pricing. Additionally, the company expects nearly $20 million in current income tax expense for 2026 at present strip prices, supported by stronger oil-price assumptions.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 8.26% due to these changes.
VGM ScoresCurrently, Permian Resources has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.
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. Interestingly, 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, Chord Energy Corporation (CHRD - Free Report) , a stock from the same industry, has gained 1.7%. The company reported its results for the quarter ended March 2026 more than a month ago.
Chord Energy Corporation reported revenues of $1.15 billion in the last reported quarter, representing a year-over-year change of -5.3%. EPS of $4.56 for the same period compares with $4.04 a year ago.
Chord Energy Corporation is expected to post earnings of $6.12 per share for the current quarter, representing a year-over-year change of +241.9%. Over the last 30 days, the Zacks Consensus Estimate has changed +14.4%.
Chord Energy Corporation has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, announced its new Bitcoin Volatility Index futures are now available for trading. First trades were executed as blocks between DV Chain and Monarq Asset Management.
"The early support we've seen for our new Bitcoin Volatility futures further demonstrates the growing client demand for more innovative tools to more efficiently protect against adverse market moves," said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. "Our new 24/7 trading framework expands the utility of these contracts, allowing investors to isolate and precisely manage their portfolio's volatility risk and exposure at any hour of the day, any day of the week – unlocking a critical new layer of risk management."
"We are highly encouraged to see the market expanding with more regulated, institutional-grade futures contracts designed for expressing volatility on bitcoin," said Shiliang Tang, CEO of Monarq Asset Management. "As bitcoin continues to mature into a more mainstream institutional asset class, the demand for sophisticated risk management instruments grows alongside it. Robust tools like CME Group Bitcoin Volatility futures are exactly what investors need to accurately express their market viewpoints and efficiently hedge their portfolios within a secure, transparent framework."
"We are proud to support the launch of CME Group's Bitcoin Volatility futures," said Dave Vizsoly, CEO and Head Trader at DV Chain. "As institutions increasingly seek advanced strategies to navigate today's markets, the ability to trade pure volatility independent of price direction on a regulated platform is a critical evolution for both our clients and the broader marketplace."
CME Group's Cryptocurrency product suite continues to experience significant growth, including the successful launch of 24/7 trading on May 29. Additional year-to-date trading highlights include:
Average daily volume (ADV) of 266,900 contracts, up 38% year-over-year. Average daily open interest of 274,500 contracts, up 18% year-over-year. For more information on Bitcoin Volatility futures, please visit www.cmegroup.com/BVI.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
PASADENA, Calif., June 05, 2026 (GLOBE NEWSWIRE) -- Wedbush Securities, a leading financial services firm, today announced its full support for CME Group’s launch of 24/7 Cryptocurrency futures trading, providing clients with uninterrupted access to regulated digital asset markets and risk management tools.
This complements Wedbush’s existing 24/7 derivatives offerings, adding to its current support of the Coinbase Derivatives Exchange and its prediction offering at CME and Crypto.com Derivatives North America (CDNA).
The launch further strengthens Wedbush’s position as a leading provider of multi-asset clearing, execution, and technology solutions for professional traders, institutions, and introducing brokers seeking access to the next generation of global financial markets.
Wedbush has been operating around the clock for over a year and was ready on day one of the CME Group launch, reflecting the firm's ongoing investment in operations, technology, and infrastructure, and its commitment to clients at the vanguard of financial market innovation.
“Cryptocurrency markets operate continuously, and as financial innovation accelerates, our clients expect the same level of access, reliability, and support from their clearing and execution partner. Our responsibility is to ensure clients can access new opportunities with confidence,” said Bob Fitzsimmons, Executive Vice President of Wedbush Securities. “We remain committed to providing the technology, expertise, and service needed to participate in evolving global markets.”
Wedbush's investment in technology talent, infrastructure, and in-house capabilities ensures the firm remains ready to support clients across digital assets, prediction markets, and the full spectrum of next-generation market structures.
About Wedbush Securities
Wedbush Securities is a leading Securities commission merchant and division of Wedbush Securities Inc., providing clearing, execution, risk management, and technology solutions to institutional, professional, and introducing broker clients worldwide. Through a combination of proprietary technology, experienced market professionals, and a commitment to innovation, Wedbush delivers reliable access to global securities and derivatives markets.
Investors love low interest rates. When rates are low, companies can borrow money more cheaply to fund their expansion plans. Lower interest expenses help boost earnings. As earnings go, so do stock prices.
Presidents love low interest rates, too. The economy booms in low-rate environments. When the economy is strong, the president's political party tends to perform well in elections.
It's unsurprising, therefore, that President Trump wants the Federal Reserve to cut interest rates. And there's good reason to believe that he expects new Fed Chair Kevin Warsh to deliver what he wants. However, the reality is that Warsh could soon be on a collision course with Trump.
Image source: Official White House Photo by Daniel Torok.
The scenario that no one wants Warsh is unlikely to be able to deliver the rate cuts President Trump desires. Even worse, the Fed could be forced to increase rates in the not-too-distant future. This is the scenario no one wants -- certainly not Warsh -- but it could be unavoidable.
The Federal Reserve has a dual mandate. Its two priorities are to maximize employment and achieve price stability. The first goal isn't an issue for now. However, prices aren't stable. The latest Consumer Price Index (CPI) was 3.8%, significantly above the Fed's historical 2% target.
This situation could get worse as the Iran war drags on. In fact, professional economic forecasters expect the CPI to hit 6% in the second quarter of 2026, according to a survey conducted by the Federal Reserve Bank of Philadelphia.
The Fed has two primary levers to control inflation. It can increase the federal funds rate that banks charge each other for overnight loans. It can also sell U.S. Treasury bonds to drain cash from the economy. Both actions help drive interest rates higher. Higher rates slow the economy and curb inflation.
CME Group's (CME +2.80%) FedWatch analyzes 30-day Fed fund futures prices to estimate the probabilities of Fed rate cuts and increases. The highest probability for a rate cut for any scheduled Federal Open Markets Committee (FOMC) meeting throughout the rest of 2026 is 3.6%. But the probability of a rate increase by the end of the year is as high as 50.9%. The chances jump to 72% by mid-2027.
The bond market is also already pricing in a likely rate increase. Interest rates on 10-year U.S. Treasury notes have jumped in recent months.
President Trump repeatedly lambasted Warsh's predecessor, Jerome Powell, for not moving quickly to cut interest rates. He told Fox News in April 2026, "I've wanted to fire him, but I hate to be controversial." The U.S. Department of Justice also launched a criminal investigation of Powell related to the renovation of the Federal Reserve building, which was later halted.
Does Trump expect Warsh to cut rates? The president stated at Warsh's swearing-in ceremony, "I want Kevin to be totally independent." However, only hours after Warsh was sworn in as the new Fed chair, Trump told an audience at a community college in New York, "You watch what's going to happen. I had a rotten head of the Fed, and now I have a great head of the Fed." He added, "You get the interest rates down, everybody's going to be very, very happy."
If the next FOMC meeting on June 16 and 17 doesn't result in rate cuts, it won't be surprising if President Trump lashes out -- especially if Warsh doesn't vote in favor of lower rates. But the real fireworks could come if Warsh concludes that rate hikes are necessary to keep inflation in check.
Warsh only has one vote. There are 11 other FOMC members. He could vote for rate cuts to avoid alienating the president, knowing that there would be enough votes to move in a different direction. Doing so, though, would likely draw intense criticism that he is compromising the Fed's political independence. Warsh could be forced to choose between placating his political patron and preserving his (and the Fed's) reputation.
What should investors do? Investors shouldn't panic just because the possibility of a rate increase is increasing. The stock market has survived past rate hikes; it will do so again.
However, some stocks perform better than others in higher-rate environments. Investors should focus on companies with strong balance sheets. Big bank stocks often benefit from higher interest rates. Value stocks could also become more attractive to many investors. If oil prices remain elevated, energy stocks could continue outperforming.
Betting that Warsh will engineer a rate cut, though, probably isn't smart. If inflation keeps rising, the new Fed chair won't have to choose between what the president wants and what the right course of action is. The data will make the choice for him.
