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

Permian Resources Co. (NYSE:PR) has been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.56.

A number of research firms have weighed in on PR. Williams Trading set a $19.00 target price on Permian Resources in a report on Wednesday, March 5th. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada upped their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group increased their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 16th.

Permian Resources Stock Performance

Shares of PR stock opened at $12.62 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $12.41 and a 200 day moving average of $13.78. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 4.05 and a beta of 1.20. Permian Resources has a 52 week low of $10.01 and a 52 week high of $16.95.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect that Permian Resources will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.75%. Permian Resources’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Trading of Permian Resources

A number of institutional investors and hedge funds have recently modified their holdings of PR. Principal Securities Inc. lifted its position in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Allworth Financial LP grew its position in Permian Resources by 376.7% in the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock worth $29,000 after purchasing an additional 1,635 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Permian Resources during the 1st quarter valued at $30,000. Global Retirement Partners LLC lifted its holdings in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares during the period. Finally, Rakuten Securities Inc. lifted its holdings in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares during the period. Institutional investors own 91.84% of the company’s stock.

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.