Permian Resources Co. (NASDAQ:PR) Receives Average Rating of “Moderate Buy” from Brokerages

Permian Resources Co. (NASDAQ:PRGet Free Report) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.40.

A number of research analysts have weighed in on PR shares. Bank of America started coverage on Permian Resources in a report on Friday, January 5th. They issued a “neutral” rating and a $15.00 price objective on the stock. Citigroup raised their price objective on Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, October 16th. Susquehanna decreased their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 9th. Benchmark raised their price objective on Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Wells Fargo & Company started coverage on Permian Resources in a report on Wednesday, November 15th. They issued an “overweight” rating and a $17.00 price objective on the stock.

View Our Latest Analysis on PR

Insider Transactions at Permian Resources

In other Permian Resources news, Director Robert John Anderson sold 400,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $13.41, for a total value of $5,364,000.00. Following the completion of the transaction, the director now owns 1,594,667 shares in the company, valued at $21,384,484.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Permian Resources news, Director Robert John Anderson sold 400,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $13.41, for a total value of $5,364,000.00. Following the sale, the director now owns 1,594,667 shares of the company’s stock, valued at $21,384,484.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Encap Partners Gp, Llc sold 7,507,508 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $12.93, for a total value of $97,072,078.44. Following the completion of the sale, the insider now directly owns 29,027,950 shares in the company, valued at approximately $375,331,393.50. The disclosure for this sale can be found here. Insiders sold 7,916,483 shares of company stock worth $102,558,856 over the last 90 days. 23.14% of the stock is currently owned by insiders.

Institutional Trading of Permian Resources

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after buying an additional 1,178 shares during the period. Chilton Capital Management LLC lifted its position in Permian Resources by 50.0% during the second quarter. Chilton Capital Management LLC now owns 3,000 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Permian Resources during the fourth quarter worth about $33,000. Quarry LP purchased a new position in Permian Resources during the first quarter worth about $33,000. Finally, GAMMA Investing LLC purchased a new position in Permian Resources during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 53.49% of the company’s stock.

Permian Resources Price Performance

Permian Resources stock opened at $13.98 on Tuesday. The company’s fifty day moving average price is $13.32 and its 200 day moving average price is $13.46. Permian Resources has a 1 year low of $8.94 and a 1 year high of $15.49. The stock has a market capitalization of $10.82 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.10 and a beta of 4.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.74.

Permian Resources Company Profile

(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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico.

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Analyst Recommendations for Permian Resources (NASDAQ:PR)

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