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

Shares of Permian Resources Co. (NYSE:PRGet Free Report) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.20.

PR has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company cut their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup cut their target price 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. Piper Sandler cut their target price on Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, BMO Capital Markets raised Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Wednesday, July 3rd.

Read Our Latest Stock Report on PR

Permian Resources Stock Up 1.5 %

PR stock opened at $13.81 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 50 day moving average is $14.16 and its 200 day moving average is $15.72. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.78 and a beta of 4.33. Permian Resources has a 1-year low of $12.34 and a 1-year high of $18.28.

Permian Resources (NYSE:PRGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. Permian Resources’s revenue for the quarter was up 99.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. Sell-side analysts predict that Permian Resources will post 1.53 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders 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 dividend yield of 1.74%. The ex-dividend date was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at $1,075,911.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at $1,075,911.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s 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 $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Permian Resources

A number of institutional investors have recently added to or reduced their stakes in PR. YHB Investment Advisors Inc. bought a new position in Permian Resources in the first quarter worth $26,000. Parallel Advisors LLC raised its holdings in Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares in the last quarter. Innealta Capital LLC bought a new position in Permian Resources in the second quarter worth $30,000. Rise Advisors LLC bought a new position in Permian Resources in the first quarter worth $32,000. Finally, Transcendent Capital Group LLC bought a new position in Permian Resources in the first quarter worth $36,000. Institutional investors own 91.84% of the company’s stock.

About Permian Resources

(Get Free Report

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.

See Also

Analyst Recommendations for Permian Resources (NYSE:PR)

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