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

Shares of Permian Resources Co. (NASDAQ:PR) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $19.31.

A number of brokerages have recently issued reports on PR. Truist Financial lifted their price target on Permian Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Stifel Nicolaus upped their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Friday, April 12th. Susquehanna boosted their price target on shares of Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, Bank of America began coverage on shares of Permian Resources in a report on Friday, January 5th. They issued a “neutral” rating and a $15.00 price objective for the company.

Permian Resources Stock Up 0.3 %

Shares of NASDAQ PR opened at $17.38 on Friday. Permian Resources has a 52-week low of $8.94 and a 52-week high of $18.28. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $16.69 and its 200-day simple moving average is $14.70. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of 14.98 and a beta of 4.35.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Equities analysts predict that Permian Resources will post 1.66 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 annualized dividend and a yield of 1.15%. Permian Resources’s dividend payout ratio (DPR) is 17.24%.

Insider Activity

In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now owns 1,062,345 shares of the company’s stock, valued at $15,457,119.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the sale, the chief accounting officer now directly owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brent P. Jensen sold 203,687 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The disclosure for this sale can be found here. Insiders have sold a total of 32,916,943 shares of company stock valued at $516,796,999 in the last quarter. Insiders own 23.14% of the company’s stock.

Hedge Funds Weigh In On Permian Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Permian Resources in the first quarter worth $25,000. YHB Investment Advisors Inc. acquired a new position in Permian Resources during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new position in Permian Resources during the 1st quarter worth $32,000. Parallel Advisors LLC increased its holdings in Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Permian Resources in the 4th quarter valued at about $33,000. 91.84% of the stock is currently owned by hedge funds and other 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.