Susquehanna Lowers Permian Resources (NASDAQ:PR) Price Target to $15.00

Permian Resources (NASDAQ:PR) had its price objective reduced by stock analysts at Susquehanna from $16.00 to $15.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price target indicates a potential upside of 11.28% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Wolfe Research started coverage on Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group dropped their price target on shares of Permian Resources from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Mizuho increased their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Benchmark reaffirmed a “buy” rating and issued a $17.00 target price on shares of Permian Resources in a report on Wednesday, August 7th. Finally, Truist Financial increased their price target on shares of Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.93.

Permian Resources Stock Performance

Shares of PR stock opened at $13.48 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average price is $15.14 and its 200-day moving average price is $15.96. The stock has a market cap of $10.82 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. Permian Resources has a 12 month low of $12.34 and a 12 month high of $18.28.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.27 earnings per share. The business’s revenue was up 99.9% compared to the same quarter last year. On average, equities analysts expect that Permian Resources will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The disclosure for this sale can be found here. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EnCap Energy Capital Fund XI L.P. purchased a new stake in Permian Resources in the 4th quarter worth $353,683,000. Vanguard Group Inc. grew its position in shares of Permian Resources by 69.7% during the fourth quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company’s stock worth $657,088,000 after purchasing an additional 19,847,358 shares in the last quarter. OnyxPoint Global Management LP bought a new stake in Permian Resources during the 4th quarter valued at approximately $114,159,000. Massachusetts Financial Services Co. MA lifted its holdings in Permian Resources by 96.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,158,892 shares of the company’s stock worth $178,961,000 after purchasing an additional 6,464,093 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Permian Resources by 480.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock worth $106,924,000 after purchasing an additional 5,012,287 shares during the period. 91.84% of the stock is currently owned by institutional investors.

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.