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olivLaw · US equity research

Permian Resources Corporation PR

Crude Petroleum & Natural Gas · SIC 1311 · Vertical: Crude Petroleum & Natural Gas (SIC 1311)

24.00USD−2.28% · 1 dayClose 03 Nov 2026

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas producer focused on the Permian Basin, with a concentration in the core of the Delaware Basin. Oil and gas sales were 5065.2 million USD in fiscal 2025, and average daily net production reached 392633 Boe/d; in the second quarter of 2026 average production was 376.4 MBoe/d.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 03 Nov 2026, Permian Resources Corporation (PR) stock was 24.00 USD (−2.28% on the day), with market capitalisation 20.1 bn USD, P/E 15.9 on diluted EPS of 1.51 USD over the last 12 months, dividend yield 2.50%, beta 0.82, 52-week range 12.13–26.02 USD. Latest reported quarter (Q2 2026): revenue of 1.9 bn USD (+55.1% YoY), net income of 792.5 m USD (+282.6% YoY), diluted EPS 0.93 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
20.1 bn USD
shares as of 31 Jul 2026
P/E (TTM)
15.9
Diluted EPS TTM 1.51 · TTM to 30 Jun 2026
E/P (TTM)
6.27%
TTM to 30 Jun 2026
Dividend yield
2.50%
DPS 12m 0.60
Beta (2y)
0.82
Volatility (1y) 34%
52-week range
12.1326.02

Price history

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Technical reading

RSI (14)
48.5
neutral
Bollinger (20, 2)
22.40 – 26.52
in the lower half of the band · %B 0.39 · band width 16.8%
SMA 50 / 200
23.43 / 20.50
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
0.61 / 0.69
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+8.5%−2.0%+10.5 pp—
3 months+17.1%−2.2%+19.2 pp—
6 months+7.1%+4.3%+2.8 pp—
Year to date+71.1%+10.6%+60.5 pp—
1 year+90.3%+10.5%+79.9 pp+36.2%
3 years+61.7%+73.7%−11.9 pp+25.3%
5 years+219.6%+61.7%+157.8 pp—
Max drawdown (1y)
−20.4%
04 May 2026 → 01 Jul 2026
Max drawdown (5y)
−44.3%
07 Jun 2022 → 14 Jul 2022
Compound annual growth (5y)
+26.2%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
1.9 bn USD
+55.1% YoY
Net income
792.5 m USD
+282.6% YoY
Diluted EPS
0.93
+232.1% YoY
net / operating
42.7% / 50.0%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue1.2 bn1.3 bn1.4 bn1.2 bn1.3 bn1.2 bn1.4 bn1.9 bn
Operating income395.1 m425.2 m504.5 m297.5 m390.9 m269.8 m467.2 m928.2 m
Interest expense74.8 m76.8 m73.8 m72.8 m69.4 m67.1 m67.0 m59.6 m
Pre-tax income563.0 m318.1 m490.9 m307.5 m168.9 m415.9 m63.9 m1.0 bn
Income tax106.5 m62.6 m100.3 m62.5 m87.4 m34.0 m13.5 m223.4 m
Net income386.4 m216.7 m329.3 m207.1 m59.2 m339.5 m43.6 m792.5 m
Diluted EPS0.530.29 ≈0.440.280.080.45 ≈0.050.93
Operating cash flow954.4 m ≈871.6 m898.0 m1.0 bn ≈766.5 m ≈904.3 m815.1 m1.5 bn ≈
Dividends paid148.4 m ≈105.5 m106.1 m105.7 m ≈112.4 m ≈123.5 m134.9 m134.2 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 57 percentile of its own 28-quarter history (min 3.9, median 14.2, max 78.2; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue891.0 m944.3 m580.5 m1.0 bn2.1 bn3.1 bn5.0 bn5.1 bn
Revenue YoY+107.3%+6.0%−38.5%+77.4%+106.9%+46.4%+60.2%+1.3%
Net income199.9 m15.8 m-682.8 m138.2 m515.0 m476.3 m984.7 m935.2 m
Net income YoY+164.5%−92.1%−4,422.3%unavailable+272.7%−7.5%+106.7%−5.0%
Diluted EPS0.750.06-2.460.461.611.241.451.28
Diluted EPS YoY+134.4%−92.0%−4,200.0%unavailable+250.0%−23.0%+16.9%−11.7%
net %22.4%1.7%-117.6%13.4%24.2%15.3%19.7%18.5%
Free cash flowunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
153.7 m USD
Financial debt
3.5 bn USD
Net debt
3.4 bn USD
Equity
11.5 bn USD
Total assets
17.9 bn USD
Debt / equity
0.31x
Current ratio
0.78x
ROE
8.5%
ROA
5.4%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
3.1 bn
2024
5.0 bn
2025
5.1 bn

SEC (XBRL)· 26 Feb 2026verified

Operating income
2023
1.1 bn
2024
1.7 bn
2025
1.5 bn

SEC (XBRL)· 26 Feb 2026verified

Interest expense
2023
177.2 m
2024
296.2 m
2025
283.1 m

SEC (XBRL)· 26 Feb 2026verified

Pre-tax income
2023
1.0 bn
2024
1.6 bn
2025
1.4 bn

SEC (XBRL)· 26 Feb 2026verified

Income tax
2023
155.9 m
2024
300.3 m
2025
284.2 m

SEC (XBRL)· 26 Feb 2026verified

Net income
2023
476.3 m
2024
984.7 m
2025
935.2 m

SEC (XBRL)· 26 Feb 2026verified

Diluted EPS
2023
1.24
2024
1.45
2025
1.28

SEC (XBRL)· 26 Feb 2026verified

Weighted average diluted shares
2023
389.1 m
2024
684.5 m
2025
731.0 m

SEC (XBRL)· 26 Feb 2026verified

Dividend per share
2023
0.37
2024
0.71
2025
0.60

SEC (XBRL)· 26 Feb 2026verified

Balance sheet · USD

Cash
2023
73.3 m
2024
479.3 m
2025
153.7 m

SEC (XBRL)· 26 Feb 2026verified

Receivables
2023
346.0 m
2024
326.4 m
2025
435.0 m

SEC (XBRL)· 07 May 2026verified

Current assets
2023
650.4 m
2024
1.1 bn
2025
1.3 bn

SEC (XBRL)· 26 Feb 2026verified

Property, plant & equipment, net
2023
43.6 m
2024
50.4 m
2025
57.1 m

SEC (XBRL)· 26 Feb 2026verified

Total assets
2023
15.0 bn
2024
16.9 bn
2025
17.9 bn

SEC (XBRL)· 26 Feb 2026verified

Accounts payable
2023
94.5 m
2024
46.0 m
2025
70.5 m

SEC (XBRL)· 26 Feb 2026verified

Short-term debt
2023
—
2024
0
2025
—

SEC (XBRL)· 08 May 2025verified

Long-term debt
2023
3.8 bn
2024
4.2 bn
2025
3.5 bn

SEC (XBRL)· 07 May 2026verified

Current liabilities
2023
1.2 bn
2024
1.3 bn
2025
1.7 bn

SEC (XBRL)· 26 Feb 2026verified

Total liabilities
2023
5.7 bn
2024
6.4 bn
2025
6.4 bn

SEC (XBRL)· 26 Feb 2026verified

Equity
2023
9.2 bn
2024
10.5 bn
2025
11.5 bn

SEC (XBRL)· 26 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
2.2 bn
2024
3.4 bn
2025
3.6 bn

SEC (XBRL)· 26 Feb 2026verified

Investing cash flow
2023
-1.6 bn
2024
-3.1 bn
2025
-2.9 bn

SEC (XBRL)· 26 Feb 2026verified

Financing cash flow
2023
-631.2 m
2024
97.7 m
2025
-1.1 bn

SEC (XBRL)· 26 Feb 2026verified

Dividends paid
2023
141.9 m
2024
466.9 m
2025
447.7 m

SEC (XBRL)· 26 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
1.3%
computed by olivLawFY 2025
Revenue CAGR 3Y
33.5%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
54.2%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
-16.2%
computed by olivLawFY 2025
Net income growth (YoY)
-5.0%
computed by olivLawFY 2025
Net income CAGR 3Y
22.0%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
-11.7%
computed by olivLawFY 2025
EPS CAGR 3Y
-7.4%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
35.8%
computed by olivLawTTM to 30 Jun 2026
Net margin
21.5%
computed by olivLawTTM to 30 Jun 2026
FCF margin
unavailable
input data missing

Returns

ROE
11.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
6.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
11.0%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROCE
12.4%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
39.8%
computed by olivLawTTM to 30 Jun 2026
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
2.9 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Net debt / EBITDA
unavailable
input data missing
Debt / equity
0.2x
computed by olivLawbalance sheet at 30 Jun 2026
Interest coverage
7.8x
computed by olivLawTTM to 30 Jun 2026

Liquidity

Current ratio
0.6x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
unavailable
input data missing
Cash ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
4.0 bn USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
29 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
20.1 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
23.0 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Market cap / net income TTM
16.3x
computed by olivLawTTM to 30 Jun 2026
P/E (TTM)
15.9x
computed by olivLawTTM to 30 Jun 2026
Earnings yield
6.3%
computed by olivLawTTM to 30 Jun 2026
P/B
1.7x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
3.5x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
11.2x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/Sales
4.0x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
2.5%
computed by olivLawTTM to 30 Jun 2026
Shareholder yield (distributions)
2.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026

Risk

Altman Z
2.65
computed by olivLawbalance sheet at 30 Jun 2026

Valuation

olivLaw classification

Neutral profile

Score: 44 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

24.00 USD

03 Nov 2026Source: olivLaw, closing series

Market cap: 20.1 bn USD

Key indicators

Market capitalisation
20.1 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
15.9x
computed by olivLawTTM to 30 Jun 2026
P/B
1.7x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
11.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
21.5%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
1.3%
computed by olivLawFY 2025
Dividend yield
2.5%
computed by olivLawTTM to 30 Jun 2026

Coverage and freshness

24/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 31 Jul 2026
Source: SEC (XBRL)published 06 Aug 2026
verified 1181derived 85

Score by group

  • Balance sheet58
  • Valuation13
  • Quality53
  • Growth50
  • Returns36

Estimated value range

Low
11.17
USD per share
Mid
13.03
USD per share
High
14.69
USD per share
Price: 24.00 USD
The price is above the range
Potential to the central value: -45.7% (value / price − 1)
Margin of safety: -84.2% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 7.88 – 18.78 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · input data missing
  • Peers: P/E14.45 – 18.78 (Mid 17.01)
    7 companies used · median multiple 11.3x · quartiles 9.6x – 12.5x
    APA, DVN, EOG, EQT, EXE, OVV, OXY
  • Dividend discount (DDM)7.88 – 10.60 (Mid 9.04)
Multiple comparisons use the SIC vertical: Crude Petroleum & Natural Gas (SIC 1311)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 44/100

FactorValueScoreWeight used
ROIC · Quality11.0%50 (vs peers)17%
Net margin · Quality21.5%57 (vs peers)10%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth33.5%100 (on a fixed band)14%
EPS CAGR 3Y · Growth-7.4%0 (on a fixed band)14%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet7.8x97 (on a fixed band)10%
Current ratio · Balance sheet0.6x0 (on a fixed band)7%
P/E (TTM) · Valuation15.9x13 (vs peers)17%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returns2.5%36 (on a fixed band)10%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet58/100 · 2/3 factors with a value
  • Growth50/100 · 2/2 factors with a value
  • Quality53/100 · 2/3 factors with a value
  • Returns· partial36/100 · 1/2 factors with a value
  • Valuation· partial13/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

PERMIAN RESOURCES CORPORATION (PR). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 5.1 bn USD in 2025; YoY growth 1.3%; net margin 21.5%; ROE 11.5%.

The estimated value range is 11.17–14.69 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 13.03 USD, the price of 24.00 USD leaves a potential of -45.7% (value / price − 1) and a margin of safety of -84.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 44/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue CAGR 3Y: 33.5%
  • Interest coverage: 7.8x

What contradicts it

  • EPS CAGR 3Y: -7.4%
  • Current ratio: 0.6x
  • P/E (TTM): 15.9x
  • The price is above the estimated value range
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): FCF conversion, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).

Versus the vertical median

Crude Petroleum & Natural Gas (SIC 1311) · same industry (4-digit SIC) · compared with 8 companies

Only companies with a capitalisation between 2.6 bn and 163.5 bn (within 8× of the company's); 74 of the vertical were left out.

Multiples and returns vs the median

P/E
15.9x
vertical median 11.7x
above median (+36.4%)
EV/EBITDA
—
vertical median 5.9x
P/S
3.5x
vertical median 2.8x
above median (+25.7%)
P/B
1.7x
vertical median 1.4x
above median (+16.8%)
ROE
11.5%
vertical median 13.4%
below median (−13.9%)
Net margin
21.5%
vertical median 19.8%
above median (+8.8%)
EBIT margin
35.8%
vertical median 25.7%
above median (+39.4%)
Revenue YoY
1.3%
vertical median 7.8%
below median (−83.5%)
Net debt/EBITDA
—
vertical median 0.8x
Dividend yield
2.5%
vertical median 1.9%
above median (+32.3%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
EOGEog Resources, Inc.81.4 bn12.122.5%25.4%−4.5%+44% / +26%
OXYOccidental Petroleum Corporation60.4 bn9.118.9%33.7%−1.9%+44% / +2%
FANGDiamondback Energy, Inc.53.9 bn37.43.8%8.6%+35.8%+26% / +25%
DVNDevon Energy Corp52.4 bn11.311.5%16.7%+7.8%+28% / +6%
EQTEqt Corporation33.9 bn12.910.9%28.4%+63.9%−11% / +36%
EXEExpand Energy Corporation20.8 bn7.814.6%19.8%+186.3%−26% / +12%
PRPermian Resources Corporation20.1 bn15.911.5%21.5%+1.3%+90% / +62%
OVVOvintiv Inc.17.9 bn13.412.1%12.8%−2.7%+62% / +50%
APAApa Corporation16.7 bn10.125.9%—unavailable+91% / +33%

1- and 3-year price returns: for PR from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
15.35
Total return -34% · Per year -34%
27.02
Total return 15% · Per year 15%
40.53
Total return 72% · Per year 72%
3 years
18.21
Total return -17% · Per year -6%
35.73
Total return 59% · Per year 17%
58.36
Total return 155% · Per year 37%
5 years
21.60
Total return 3% · Per year 1%
47.26
Total return 116% · Per year 17%
84.05
Total return 275% · Per year 30%
What moves the 3-year price the most
  • Exit P/E± 8.93
  • Net margin± 6.25
  • Annual revenue growth± 4.66
  • Annual dilution± 0.53

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results).

In brief

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas producer focused on the Permian Basin, with a concentration in the core of the Delaware Basin 12. Oil and gas sales were 5065.2 million USD in fiscal 2025, and average daily net production reached 392633 Boe/d 1; in the second quarter of 2026 average production was 376.4 MBoe/d 3.

SWOT

Strengths

  • The company has a low-cost structure in Delaware and a strengthened balance sheet, with investment grade ratings from all agencies 23.
  • Its bolt-on acquisition and ground game strategy has added high-return locations and raised its working interest in properties 3.
  • Its exclusive focus on the Delaware Basin gives detailed basin knowledge and a local network of relationships 3.

Weaknesses

  • A significant share of reserves is undeveloped, so their value depends on future costs and prices 1.
  • Exposure to Waha gas has produced negative realizations in some periods and required curtailing production 3.
  • The company depends on access to capital to sustain its drilling and acquisition program 1.

Opportunities

  • If oil prices stay high, projects with rapid payback could generate more cash flow 3.
  • Acquisition opportunities in Delaware could add high-return inventory if offers remain acceptable 3.
  • Debt reduction and investment grade ratings could lower financing costs and ease access to capital markets 23.

Threats

  • Volatile oil and gas prices could reduce revenue and force the company to limit investment 12.
  • Limited pipeline capacity in the Permian could keep regional gas prices low 12.
  • Geopolitical tensions and sanctions could suddenly affect global supply and costs 12.

Risks

  • Commodity price volatilityhigh

    Oil, NGL and gas prices can fluctuate sharply, and a prolonged period of low prices could reduce revenue, cash flow and property values 1.

  • Property impairmentmedium

    If prices fall below the level that supports future cash flows, the company could be required to record impairments, affecting its results 1.

  • Reserve estimate uncertaintymedium

    Reserve estimates depend on assumptions about prices, costs and production, and differences from reality could materially change reserve value 1.

  • Lease expirationmedium

    Some acreage could lose development rights if production is not established or leases are not renewed, which would reduce reserves 1.

  • Access to capital and refinancinglow

    If financing were unavailable on acceptable terms, the company could be forced to reduce investment or its acquisition program 12.

Investment thesis

What would need to be true (bull case)

  • A low-cost structure, a strengthened balance sheet and disciplined acquisitions could support production and cash flow growth if prices remain favorable.
  • Reaching investment grade ratings and reducing debt could lower borrowing costs and widen access to capital.
  • If recent acquisitions add high-return locations, higher working interest could lift output without proportional capital spending.

What would break the thesis

  • If oil prices fall again, revenue and cash flow could drop quickly and investment could be cut back.
  • Transport constraints for gas could keep realizations low and limit the value of gas produced.
  • Impairment risk and reserve uncertainty could affect results if underlying assumptions do not hold.

What to watch

  • Oil and Waha gas price trendsQ3 2026
  • Production against the revised guidance of 199 MBbls/d2026
  • Pace of acquisitions and pricing per acre in DelawareQ4 2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results).

The business

On capital returns, the company paid dividends and distributions of 502.9 million USD in fiscal 2025 1, and its base dividend was 0.16 USD per share per quarter in 2026 23. It has since reached investment grade ratings from all three major agencies 2. In 2026 it reduced total debt by about 35% from year-end 2024, to 2.7 billion USD 3.

The corporate structure was reorganized on January 7, 2026, when a new public holding company named Permian Resources Corporation was formed, with Class A shares continuing to trade on the NYSE 12. The company conducts its operations mainly through its operating subsidiary OpCo 2.

Segments

Natural gas

Natural gas has significant exposure to Waha hub prices, which turned negative in parts of 2026 23. The company curtailed some high-GOR production to protect cash flow, and hedges lifted realizations 3.

Market context

The Permian gas market remains constrained by limited pipeline capacity and maintenance, which has pushed regional prices low or negative 12. The asset acquisition market is also harder when oil prices are high, which could affect the pace of transactions 3.

Trends

  • Oil price volatilitymixed

    Oil prices fell in 2025 and rose sharply in 2026, which could quickly change the company's revenue and cash flow 12.

  • Gas transport constraints in the Permianheadwind

    Limited pipeline capacity in the basin pushed Waha gas prices below zero at times, which could reduce realizations for gas sold in the area 12.

  • Consolidation through acquisitions in Delawaretailwind

    Companies in the basin continue to buy assets, and the company's strategy of acquiring assets with a technical edge could support reserve growth if offers remain attractive 3.

  • Inflation and oilfield service costsheadwind

    Inflationary pressures and tariffs can raise the cost of goods and services in the industry, which could increase capital and operating expenses 12.

Competitive position

The company operates in an intensely competitive industry in which many rivals have financial, technical and personnel resources considerably greater than its own, which can make replacing reserves harder 1. Its stated advantage lies in its low-cost structure in Delaware and its local deal relationships 3.

  • Major Permian Basin producers

    The sources describe intense industry competition in general without naming specific rival companies.

  • Independent Delaware Basin operators

    The company notes that offset operators are delineating new zones, which suggests competition for the same drilling locations.

  • Permian asset sellers and buyers

    Competition for acquisitions comes from other firms seeking assets in Delaware, though the sources do not identify them.

  • Oilfield service companies

    Drilling and completion costs depend on equipment and service availability, which is a supplier market issue.

News & filings

In the press

The latest news item in our archive is from 03 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Current report04 Nov 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits
  • Quarterly report06 Aug 2026
  • Current report05 Aug 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits
  • Current report19 May 2026
    Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
  • Quarterly report07 May 2026
  • Current report06 May 2026
    Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Financial statements and exhibits
  • Current report06 May 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits
  • Proxy statement06 Apr 2026
  • Annual report26 Feb 2026
  • Current report25 Feb 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Permian Resources Corporation · 26 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Permian Resources Corporation · 06 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Permian Resources Corporation · 05 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.

Permian Resources Corporation (PR): stock, results, valuation and forecast · olivLaw