Welcome to our dedicated page for Permian Resources Corporation news (Ticker: $PR), a resource for investors and traders seeking the latest updates and insights on Permian Resources Corporation stock.
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Permian Resources (NYSE: PR) announced strong first quarter 2024 results, delivering its best quarter to-date with robust free cash flow and increased annual synergy targets. The company reported production outperformance, operational efficiencies, and additional bolt-on acquisitions, leading to a 2% increase in full-year production guidance. Permian Resources generated $324 million of adjusted free cash flow, executed $270 million of acquisitions, and added 11,200 net acres in the Delaware Basin. The integration of Earthstone acquisition is complete, surpassing synergy targets and increasing annual synergy target to $225 million. Permian Resources also announced an increase in quarterly dividends and shareholder returns. The company's financial position remains strong, with low leverage and increased liquidity. Permian Resources maintained a strong financial position with $13 million in cash and a $4.0 billion borrowing base.
Permian Resources (NYSE: PR) declared a quarterly base cash dividend of $0.06 per share of Class A common stock, and a quarterly variable cash dividend of $0.14 per share, totaling $0.20 per share annually. The dividends will be payable on May 29, 2024, to shareholders of record as of May 21, 2024.
