Permian Resources
Develops oil and liquids-rich gas assets concentrated in the Delaware Basin.
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Profile
Produces crude oil and liquids-rich natural gas from Permian Basin assets concentrated in the Delaware Basin. Growth comes from developing acquired reserves and assembling contiguous acreage through large combinations, smaller bolt-ons, swaps, and selective divestitures.
Acquires, develops, and optimizes crude-oil and liquids-rich natural-gas reserves across the Permian Basin, with operations concentrated in the Delaware Basin. The footprint spans West Texas and southeastern New Mexico and also includes Midland Basin acreage acquired with Earthstone.
Builds contiguous drilling inventory through major acquisitions, smaller bolt-ons, acreage swaps, royalty purchases, and selective divestitures. This transaction-driven approach has expanded leasehold, royalty interests, and related infrastructure while keeping the portfolio centered on Permian assets.
Operates under a co-CEO model led by Colgate co-founders William M. Hickey III and James H. Walter. Management compensation is equity-oriented, and the public-company structure reflects stock-funded combinations and ongoing simplification of the Up-C framework.
Company facts
Key statistics
Year to date +57.5% · Average volume (30d) 9.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Raymond James | Reiterate | Strong Buy | $26 | $29 | |
| Aug 10, 2026 | Truist Financial | Target | $25 | $24 | ||
| Jul 17, 2026 | UBS | Reiterate | Buy | $19 | $24 | |
| Jun 29, 2026 | Morgan Stanley | Reiterate | Overweight | $25 | $24 | |
| Jun 23, 2026 | Evercore ISI | Initiate | Outperform | $25 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.59 | $0.93 | +59.0% | $1.66B | $1.86B | +12.1% | +2.48% |
| May 6, 2026Q1 FY26 | $0.38 | $0.39 | +2.6% | $1.41B | $1.39B | −1.2% | −5.33% |
| Feb 25, 2026Q4 FY25 | $0.28 | $0.45 | +58.5% | $1.29B | $1.17B | −9.2% | +2.90% |
| Nov 5, 2025Q3 FY25 | $0.31 | $0.37 | +20.2% | $1.32B | $1.32B | −0.1% | +5.52% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.38B | $1.20B | $1.32B | $1.17B | $1.39B | $1.86B | |
| Gross profit | $676.0M | $447.5M | $443.2M | $313.8M | $618.3M | $1.49B | |
| Operating income | $504.5M | $297.5M | $393.2M | $270.2M | $570.6M | $928.2M | |
| Net income | $329.3M | $207.1M | $59.2M | $339.5M | $43.6M | $792.5M | |
| Diluted EPS | $0.44 | $0.28 | $0.08 | $0.45 | $0.05 | $0.93 | |
| Gross margin | 49.1% | 37.4% | 33.5% | 26.8% | 44.5% | 80.1% | |
| Operating margin | 36.6% | 24.8% | 29.7% | 23.1% | 41.1% | 50.0% |
Fiscal years (4-quarter sums)FY21 $1.03B · FY22 $2.13B · FY23 $3.12B · FY24 $5.00B · FY25 $5.07B
Revenue by product · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $131.7M · Total debt $3.13B · Total assets $18.50B · Shareholders' equity $12.01B
Dividends
Raised for 3 straight years — most recently to $0.16 from $0.15 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 16, 2026 | Jun 16 | Jun 30 | $0.16 | |
| Mar 17, 2026 | Mar 17 | Mar 31 | $0.16 | raised from $0.15 |
| Dec 17, 2025 | Dec 17 | Dec 31 | $0.15 | |
| Sep 16, 2025 | Sep 16 | Sep 30 | $0.15 | |
| Jun 16, 2025 | Jun 16 | Jun 30 | $0.15 | |
| Mar 17, 2025 | Mar 17 | Mar 31 | $0.15 | |
| Nov 14, 2024 | Nov 14 | Nov 22 | $0.15 | raised from $0.05 |
| Aug 19, 2024 | Aug 19 | Aug 27 | $0.21 | special dividend |
Ownership
Shares outstanding 837.29M · Float 795.94M · 95.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 79.04M | 9.44% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 41.26M | 4.93% | 13F | Aug 13, 2026 |
| Price T Rowe Associates Inc /MD/ | 38.22M | 4.56% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 35.75M | 4.27% | 13F | Aug 13, 2026 |
| State Street Corp | 27.70M | 3.31% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 21, 2026 | Guy M. Oliphint | officer: EVP, Chief Financial Officer | −62,769 | $20.44 |
| Mar 18, 2026 | William J. Quinn | director | −512,429 | $19.59 |
| Mar 18, 2026 | Aron Marquez | director | −7,750 | $19.62 |
| Mar 17, 2026 | Aron Marquez | director | −5,250 | $19.58 |
| Mar 12, 2026 | Jeffrey Tepper | director | −50,000 | $19.38 |
Peers
- Diamondback Energy
Large Permian pure-play rival in drilling, production, and acquisitions
- ConocoPhillips
Scaled Delaware and Midland operator competing for wells and market access
- Occidental Petroleum
Major Permian producer with overlapping Delaware development activity
- Devon Energy
Multi-basin producer anchored by a major Delaware Basin position
- Matador Resources
Delaware-focused peer in acreage assembly, drilling, and midstream
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Permian Resources | $22.86 | +0.82% | $19.01B | 15.0 | 10.3 | 3.3 | +55.2% |
| Diamondback Energy | $197.67 | −0.03% | $55.61B | 38.6 | 10.7 | 3.3 | +32.1% |
| ConocoPhillips | $129.95 | −0.32% | $158.80B | 17.3 | 13.4 | 2.5 | +39.7% |
| Occidental Petroleum | $59.23 | +0.23% | $58.78B | 9.1 | 13.2 | 2.3 | +27.7% |
| Devon Energy | $47.48 | +0.26% | $52.09B | 11.2 | 9.5 | 2.6 | +83.2% |
| Matador Resources | $56.39 | +0.04% | $7.00B | 9.7 | 7.3 | 1.8 | +28.2% |
| Median | 11.2 | 10.7 | 2.5 | +32.1% |