Permian Resources Co. (NYSE:PR) Receives $18.73 Consensus Target Price from Analysts

Permian Resources Co. (NYSE:PR) has received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $18.73.

Several brokerages have recently issued reports on PR. JPMorgan Chase & Co. dropped their target price on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Piper Sandler lowered their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Citigroup cut their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wolfe Research initiated coverage on Permian Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Susquehanna dropped their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th.

Insider Activity at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PR. Hexagon Capital Partners LLC increased its position in shares of Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after purchasing an additional 1,998 shares in the last quarter. Innealta Capital LLC acquired a new position in Permian Resources during the second quarter worth about $30,000. Transcendent Capital Group LLC purchased a new position in Permian Resources in the 1st quarter valued at approximately $36,000. UMB Bank n.a. raised its stake in shares of Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after buying an additional 1,390 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Permian Resources in the second quarter valued at about $40,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of PR stock opened at $13.96 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources has a 12-month low of $12.34 and a 12-month high of $18.28. The business’s 50 day moving average is $14.03 and its two-hundred day moving average is $15.41. The company has a market capitalization of $10.75 billion, a P/E ratio of 12.69, a P/E/G ratio of 0.84 and a beta of 4.32.

Permian Resources (NYSE:PR) last announced its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business’s revenue was up 99.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Analysts expect that Permian Resources will post 1.48 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

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.