Permian Resources (NYSE:PR) Price Target Raised to $24.00

Permian Resources (NYSE:PR) had its target price increased by Piper Sandler from $20.00 to $24.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Wall Street Zen upgraded shares of Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. UBS Group lifted their price target on shares of Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a report on Thursday. Bank of America reaffirmed a “neutral” rating and set a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. Finally, Susquehanna dropped their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Permian Resources Trading Up 0.2%

NYSE:PR opened at $18.88 on Thursday. The company has a market cap of $15.66 billion, a PE ratio of 15.10 and a beta of 0.66. The business’s 50 day moving average is $15.99 and its two-hundred day moving average is $14.39. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. Permian Resources has a 52 week low of $10.01 and a 52 week high of $19.38.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. On average, analysts predict that Permian Resources will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

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

Insider Activity at Permian Resources

In other news, EVP John Charles Bell sold 158,385 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.39, for a total transaction of $2,912,700.15. Following the completion of the transaction, the executive vice president owned 1,567,172 shares in the company, valued at approximately $28,820,293.08. This represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William M. Hickey III sold 898,423 shares of the stock in a transaction dated 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 in the company, valued at approximately $172,577,263.90. This trade represents a 8.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,965,093 shares of company stock valued at $62,487,101. Company insiders own 6.44% of the company’s stock.

Institutional Investors Weigh In On Permian Resources

Several large investors have recently made changes to their positions in the company. Ruffer LLP acquired a new position in Permian Resources during the third quarter worth about $2,608,000. Massachusetts Financial Services Co. MA raised its position in Permian Resources by 8.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock worth $236,207,000 after acquiring an additional 1,421,059 shares in the last quarter. American Century Companies Inc. lifted its holdings in Permian Resources by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock valued at $150,409,000 after acquiring an additional 1,863,632 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Permian Resources by 101.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 540,618 shares of the company’s stock valued at $6,920,000 after purchasing an additional 271,668 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of Permian Resources by 599.2% during the 2nd quarter. Cresset Asset Management LLC now owns 174,508 shares of the company’s stock valued at $2,377,000 after purchasing an additional 149,548 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Trending Headlines about Permian Resources

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

About Permian Resources

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.