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

Shares of Permian Resources Co. (NYSE:PR) 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.

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:PR) 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

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.