Permian Resources Co. (NYSE:PR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Permian Resources Co. (NYSE:PR) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $19.06.

PR has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 price target for the company. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Benchmark reduced their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley started coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Permian Resources Stock Down 1.5 %

Shares of PR opened at $14.99 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources has a 12 month low of $12.59 and a 12 month high of $18.28. The firm’s 50 day moving average is $14.97 and its 200-day moving average is $14.59. The stock has a market capitalization of $12.04 billion, a PE ratio of 9.08, a P/E/G ratio of 4.60 and a beta of 4.32.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company’s revenue was up 60.3% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. Equities research analysts forecast that Permian Resources will post 1.44 EPS for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.00%. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is currently 36.36%.

Insider Activity at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Permian Resources

A number of large investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its stake in shares of Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources in the 4th quarter worth about $31,000. UMB Bank n.a. increased its stake in shares of Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after acquiring an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after acquiring an additional 800 shares during the period. Finally, Blue Trust Inc. boosted its stake in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

About Permian Resources

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.