Permian Resources (PR) is poised to report a solid Q1 with production seen topping expectations, RBC Capital Markets said Sunday in a report.
RBC boosted its Q1 estimates to $0.42 a share for earnings and $1.15 for cash flow, similar to the Wall Street consensus.
Production may be 373,000 barrels of oil equivalent a day, exceeding the 368,000 consensus, RBC said.
"Strong base performance and consistency in new well productivity should underpin stronger volumes that sequentially increase slightly," the report said.
The "strong" balance sheet and low breakeven production costs "provide better resiliency to recent oil price weakness," the report said.
RBC cut its price target on Permian Resources stock to $16 from $18 and reiterated its outperform rating.
Q1 results are expected May 7.
Price: 10.99, Change: -0.05, Percent Change: -0.50
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。