Overview

* Permian Resources ( PR ) Q2 crude oil production rises 1% qtr/qtr

* Adjusted free cash flow for Q2 at $312 mln

* Company raises full-year production guidance

* Receives Fitch investment grade rating

Outlook

* Permian Resources ( PR ) raises 2025 oil production target to 178.5 MBbls/d

* Company increases full-year production target to 385.0 MBoe/d

* Permian Resources ( PR ) adjusts 2025 capex range to $1.92-$2.02 bln

* Company expects < $5 mln in 2025 current income tax

Result Drivers

* PRODUCTION INCREASE - Average daily crude oil production rose 1% to 176,533 Bbls/d, driven by strong well results and the APA acquisition

* OPERATIONAL EFFICIENCY - Co set records for the fastest well drilled and lowest completions cost per foot, per Co-CEO Will Hickey

* ACQUISITIONS - Closed APA New Mexico bolt-on acquisition and added ~1,300 net acres through grassroots transactions, per Co-CEO James Walter

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $505 mln

Adjusted

Capex

Q2 $817 mln

Adjusted

Free

Cash

Flow

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

* Wall Street's median 12-month price target for Permian Resources Corp ( PR ) is $19.00, about 27.8% above its August 5 closing price of $13.71

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)