Permian Resources Corporation (NYSE:PR) Receives $18.73 Consensus PT from Analysts

Permian Resources Corporation (NYSE:PR) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.7333.

Several research firms recently issued reports on PR. Piper Sandler boosted their price target on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Wall Street Zen downgraded Permian Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings downgraded shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Scotiabank assumed coverage on shares of Permian Resources in a research report on Friday, September 19th. They set a “sector outperform” rating and a $21.00 price target on the stock. Finally, Susquehanna boosted their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd.

Insiders Place Their Bets

In other news, EVP Robert Regan Shannon sold 4,742 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total transaction of $67,431.24. Following the sale, the executive vice president directly owned 91,805 shares of the company’s stock, valued at approximately $1,305,467.10. This represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Charles Bell sold 4,743 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the transaction, the executive vice president owned 107,569 shares in the company, valued at $1,528,555.49. The trade was a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Permian Resources

A number of large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Permian Resources by 114.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock worth $25,000 after acquiring an additional 1,047 shares during the period. Allworth Financial LP raised its position in Permian Resources by 376.7% during the first quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after purchasing an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Permian Resources during the first quarter worth $30,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Permian Resources by 154.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock worth $31,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Keystone Global Partners LLC acquired a new stake in shares of Permian Resources in the 1st quarter valued at $36,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Performance

Shares of PR stock opened at $12.61 on Thursday. Permian Resources has a 52 week low of $10.01 and a 52 week high of $16.33. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 8.19 and a beta of 1.31. The company has a 50-day simple moving average of $13.16 and a 200 day simple moving average of $13.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.63.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Permian Resources will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 16th. Permian Resources’s payout ratio is 38.96%.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.