Permian Resources Co. (NYSE:PR) Receives $19.13 Average PT from Brokerages

Shares of Permian Resources Co. (NYSE:PR) have been given a consensus rating of “Moderate Buy” by the seventeen analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.13.

Several research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial lifted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Morgan Stanley initiated coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target on the stock.

Insider Activity at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Principal Securities Inc. boosted its holdings in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources during the fourth quarter valued at about $31,000. Global Retirement Partners LLC boosted its holdings in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. grew its position in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC bought a new position in shares of Permian Resources during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 2.2 %

PR opened at $13.97 on Friday. The stock has a market cap of $11.22 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources has a twelve month low of $12.62 and a twelve month high of $18.28. The company has a fifty day moving average of $14.68 and a 200-day moving average of $14.47.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s payout ratio is presently 36.36%.

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.