Permian Resources (NYSE:PR) Price Target Raised to $23.00

Permian Resources (NYSE:PR) had its price target upped by UBS Group from $19.00 to $23.00 in a research report report published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also recently commented on PR. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 target price on shares of Permian Resources in a research report on Thursday, February 26th. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Benchmark lowered Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada raised their target price on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Finally, TD Cowen upgraded Permian Resources to a “strong-buy” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.69.

Permian Resources Stock Performance

Shares of PR opened at $18.88 on Thursday. The firm has a fifty day moving average of $15.99 and a 200-day moving average of $14.39. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 15.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. Permian Resources has a 1 year low of $10.01 and a 1 year high of $19.38.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, equities analysts anticipate that Permian Resources will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s payout ratio is presently 48.00%.

Insider Activity at Permian Resources

In other news, CEO William M. Hickey III sold 898,423 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the completion of the sale, the chief executive officer directly owned 9,389,405 shares of the company’s stock, valued at $172,577,263.90. This represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Charles Bell sold 158,385 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.39, for a total value of $2,912,700.15. Following the completion of the transaction, the executive vice president owned 1,567,172 shares of the company’s stock, valued at $28,820,293.08. This trade represents a 9.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,965,093 shares of company stock valued at $62,487,101 over the last ninety days. Company insiders own 6.44% of the company’s stock.

Institutional Trading of Permian Resources

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Permian Resources by 69.2% in the first quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after acquiring an additional 61,230 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Permian Resources by 18.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock worth $75,512,000 after purchasing an additional 852,347 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Permian Resources by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock worth $16,751,000 after purchasing an additional 87,105 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Permian Resources by 6.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 898,087 shares of the company’s stock worth $12,232,000 after purchasing an additional 54,680 shares in the last quarter. Finally, World Investment Advisors raised its stake in Permian Resources by 34.0% during the 2nd quarter. World Investment Advisors now owns 13,961 shares of the company’s stock valued at $190,000 after purchasing an additional 3,544 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

More Permian Resources News

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Piper Sandler raised its price target to $24 and moved to an “overweight” rating, implying material upside and likely supporting buying interest. Piper Sandler raises target
• Positive Sentiment: UBS increased its target to $23 and kept a “buy” rating, another buy-side endorsement that can attract institutional flows. UBS raises target
• Positive Sentiment: Citigroup lifted its target to $21 and reiterated a “buy” note, adding to the cluster of upgrades. Citigroup raises target
• Positive Sentiment: Permian raised its quarterly dividend to $0.16 (ex‑div Mar 17; payable Mar 31), increasing yield and making the shares more attractive to income-focused investors. MarketBeat — Dividend announcement
• Positive Sentiment: Large institutional purchases reported earlier (BNY Mellon, Vanguard, Millennium et al.) show heavy institutional ownership and recent inflows that can support the stock on positive news. MarketBeat — Institutional holdings
• Neutral Sentiment: Q4 results were mixed — EPS beat ($0.37 vs. $0.28) but revenue missed and was down ~9.8% YoY. The print supports valuation but raises questions on top-line momentum. MarketBeat — Q4 results
• Neutral Sentiment: Analyst coverage roundup (Benzinga) highlights divergent targets/ratings — useful context for trading but not a single directional catalyst. Benzinga analyst roundup
• Negative Sentiment: Clustered insider selling: multiple senior executives disclosed multi‑million‑dollar sales (including large blocks by the CEO and other EVPs). Heavy insider dispositions can sap sentiment and raise questions about timing/intent. InsiderTrades — Insider selling
• Negative Sentiment: Benchmark downgraded PR from “buy” to “hold,” which could reduce urgency among some buy‑side managers despite other upgrades. MSN — Benchmark downgrade

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.