Citigroup Increases Permian Resources (NYSE:PR) Price Target to $21.00

Permian Resources (NYSE:PR) had its target price upped by research analysts at Citigroup from $17.00 to $21.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 11.23% from the stock’s previous close.

PR has been the topic of several other reports. Wall Street Zen raised Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Royal Bank Of Canada increased their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. UBS Group raised their price objective on shares of Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Research raised shares of Permian Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Benchmark cut shares of Permian Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Two equities 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 stock. According to MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Permian Resources Trading Up 0.2%

Shares of NYSE:PR opened at $18.88 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day moving average is $15.99 and its 200-day moving average is $14.39. The company has a market cap of $15.66 billion, a P/E ratio of 15.10 and a beta of 0.66. Permian Resources has a 52-week low of $10.01 and a 52-week high of $19.38.

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

Insiders Place Their Bets

In related news, CEO James H. Walter sold 673,425 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $12,377,551.50. Following the sale, the chief executive officer owned 9,389,405 shares of the company’s stock, valued at $172,577,263.90. The trade was a 6.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William M. Hickey III sold 898,423 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $16,513,014.74. Following the completion of the sale, the chief executive officer owned 9,389,405 shares in the company, valued at $172,577,263.90. This trade represents a 8.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,965,093 shares of company stock worth $62,487,101 in the last 90 days. 6.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Permian Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Permian Resources by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after purchasing an additional 61,230 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Permian Resources by 18.5% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $16,751,000 after purchasing an additional 87,105 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Permian Resources by 6.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 898,087 shares of the company’s stock valued at $12,232,000 after purchasing an additional 54,680 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Permian Resources in the second quarter valued at about $156,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Key Headlines Impacting 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

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.