KeyCorp Upgrades Permian Resources (NYSE:PR) to Strong-Buy

Permian Resources (NYSE:PR) was upgraded by KeyCorp to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports. KeyCorp also issued estimates for Permian Resources’ Q1 2026 earnings at $0.39 EPS, Q2 2026 earnings at $0.55 EPS, Q3 2026 earnings at $0.63 EPS, Q4 2026 earnings at $0.62 EPS, FY2026 earnings at $2.18 EPS, Q1 2027 earnings at $0.61 EPS, Q2 2027 earnings at $0.56 EPS, Q3 2027 earnings at $0.54 EPS, Q4 2027 earnings at $0.56 EPS and FY2027 earnings at $2.28 EPS.

PR has been the topic of several other research reports. The Goldman Sachs Group raised their target price on Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Zacks Research upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Wells Fargo & Company raised their target price on Permian Resources from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. Truist Financial began coverage on Permian Resources in a research report on Tuesday, March 24th. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $21.67.

Permian Resources Stock Performance

NYSE PR opened at $21.35 on Monday. The company has a market cap of $17.86 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 3.15 and a beta of 0.56. The stock’s 50 day simple moving average is $18.65 and its 200-day simple moving average is $15.40. Permian Resources has a 1-year low of $10.01 and a 1-year high of $21.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that Permian Resources will post 1.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Tepper sold 50,000 shares of Permian Resources stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $19.38, for a total transaction of $969,000.00. Following the transaction, the director owned 150,546 shares in the company, valued at approximately $2,917,581.48. This trade represents a 24.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William M. Hickey III sold 898,423 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $16,513,014.74. Following the transaction, the chief executive officer owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. The trade was a 8.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,130,066 shares of company stock valued at $58,837,655 in the last 90 days. 6.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Permian Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in Permian Resources by 4.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after buying an additional 607 shares in the last quarter. Waterloo Capital L.P. lifted its position in Permian Resources by 3.1% during the fourth quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after buying an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in Permian Resources by 5.4% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after purchasing an additional 706 shares during the period. Curated Wealth Partners LLC raised its position in Permian Resources by 1.1% in the fourth quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after purchasing an additional 747 shares during the period. Finally, Chilton Capital Management LLC raised its position in Permian Resources by 3.5% in the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.