Permian Resources Corp reached a new all-time high of $24.15 per share on September 10, 2026, extending a strong rally fueled by second-quarter results that surpassed Wall Street expectations and management’s decision to raise full-year production guidance.
The stock traded just 0.98% below its previous 52-week high of $24.09, underscoring the momentum behind the E&P producer. Permian Resources has delivered a year-to--date return of 71%, with shares up 69.32% over the past 12 months. According to InvestingPro analysis, the stock remains undervalued relative to its estimated fair value.
In its second-quarter report, Permian Resources posted adjusted earnings of $0.69 per share, comfortably beating consensus estimates of $0.57 per share. Revenue came in at $1.86 billion, surpassing analyst projections of $1.66 billion. The company also generated a record $751 million in free cash flow during the quarter.
On the operations front, Permian Resources reported average oil production of approximately 198,000 barrels per day, representing a 3% sequential increase. The company subsequently raised its full-year 2026 oil production guidance to 199,000 barrels per day, reflecting continued output growth in its core Permian Basin assets.
Leverage remained restrained, with net debt to EBITDA holding at approximately 0.5 times, a level that supports the company’s ability to generate meaningful free cash flow while maintaining financial flexibility.
The combination of stronger-than-expected earnings, robust cash generation, and upward guidance revisions contributed to the stock reaching its new peak.
