Permian Resources Corporation (NYSE:PR) Receives Consensus Rating of “Moderate Buy” from Analysts

Permian Resources Corporation (NYSE:PR) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.7333.

Several analysts have recently weighed in on PR shares. UBS Group boosted their target price on Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Mizuho dropped their target price on Permian Resources from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Piper Sandler boosted their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. TD Cowen raised Permian Resources to a “strong-buy” rating in a research note on Monday, July 7th. Finally, William Blair began coverage on Permian Resources in a research report on Monday, August 25th. They issued an “outperform” rating on the stock.

Permian Resources Price Performance

PR stock opened at $12.50 on Thursday. Permian Resources has a 52-week low of $10.01 and a 52-week high of $16.33. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $13.23 and a two-hundred day moving average of $13.28. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 8.11 and a beta of 1.32.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts anticipate that Permian Resources will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, September 16th. Permian Resources’s payout ratio is presently 38.96%.

Insider Activity at Permian Resources

In other Permian Resources news, EVP Robert Regan Shannon sold 4,742 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the transaction, the executive vice president owned 91,805 shares of the company’s stock, valued at approximately $1,305,467.10. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Charles Bell sold 4,743 shares of Permian Resources stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total value of $67,398.03. Following the transaction, the executive vice president owned 107,569 shares in the company, valued at $1,528,555.49. This represents a 4.22% decrease in their position. The SEC filing for this sale provides additional information. 6.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Permian Resources

Several hedge funds have recently bought and sold shares of PR. OneDigital Investment Advisors LLC boosted its position in shares of Permian Resources by 19.2% during the first quarter. OneDigital Investment Advisors LLC now owns 19,274 shares of the company’s stock worth $267,000 after purchasing an additional 3,107 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Permian Resources by 12.4% during the first quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company’s stock worth $444,000 after purchasing an additional 3,547 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Permian Resources by 8.5% during the first quarter. Crossmark Global Holdings Inc. now owns 28,385 shares of the company’s stock worth $393,000 after purchasing an additional 2,215 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Permian Resources by 27.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company’s stock worth $425,000 after purchasing an additional 6,600 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Permian Resources by 70.1% during the second quarter. Nordea Investment Management AB now owns 490,311 shares of the company’s stock worth $6,727,000 after purchasing an additional 202,026 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.