On Tuesday, Permian Resources received a positive adjustment to its Relative Strength (RS) Rating, from 65 to 71.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks compares to other publicly traded companies.
Decades of market research reveals that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves. See if Permian Resources can continue to rebound and clear that threshold.
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Permian Resources is working on a consolidation with an 18.28 entry. See if the stock can clear the breakout price in heavy trading. Keep in mind that it's a later-stage consolidation, and those entail more risk.
The company showed -10% EPS growth in the latest quarterly report. Sales increased 60%. The company is expected to report its latest earnings and sales numbers on or around Feb. 19.
Permian Resources earns the No. 8 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Crescent Energy and Gulfport Energy are among the top 5 highly rated stocks within the group.
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