Permian Resources (NYSE:PR) Given New $26.00 Price Target at Citigroup

Permian Resources (NYSE:PR) had its price objective boosted by Citigroup from $21.00 to $26.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on PR. Scotiabank raised shares of Permian Resources to a “strong-buy” rating in a research report on Friday, March 27th. Wells Fargo & Company lifted their price objective on shares of Permian Resources from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, March 16th. UBS Group boosted 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, March 5th. Mizuho upped their target price on Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, The Goldman Sachs Group increased their target price on Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Permian Resources currently has a consensus rating of “Buy” and an average target price of $21.43.

Permian Resources Stock Performance

Shares of Permian Resources stock opened at $21.31 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $18.02 and its 200-day moving average price is $15.12. The firm has a market cap of $17.82 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.05 and a beta of 0.66. Permian Resources has a 12 month low of $10.01 and a 12 month high of $21.99.

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 company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities research analysts expect that Permian Resources will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 17th. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s payout ratio is presently 51.20%.

Insider Activity

In related news, Director William J. Quinn sold 800,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $19.15, for a total transaction of $15,320,000.00. Following the completion of the transaction, the director owned 7,426,839 shares in the company, valued at $142,223,966.85. The trade was a 9.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Guy M. Oliphint sold 172,904 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $2,356,681.52. Following the sale, the executive vice president directly owned 616,683 shares of the company’s stock, valued at $8,405,389.29. The trade was a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,340,522 shares of company stock worth $89,069,383 over the last 90 days. 12.80% of the stock is currently owned by insiders.

Institutional Trading of Permian Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Permian Resources by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock worth $1,057,930,000 after buying an additional 3,941,318 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Permian Resources by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after buying an additional 4,533,732 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Permian Resources by 115.5% in the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after buying an additional 13,483,136 shares during the last quarter. State Street Corp boosted its holdings in Permian Resources by 2.0% in the fourth quarter. State Street Corp now owns 23,553,393 shares of the company’s stock worth $330,454,000 after acquiring an additional 460,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings 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. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Key Stories Impacting Permian Resources

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

• Positive Sentiment: Citigroup raised its price target from $21 to $26 and initiated/maintained a Buy rating, implying material upside vs. current levels — this is a clear analyst catalyst that can support further gains. Benzinga
• Positive Sentiment: Permian secured investment‑grade credit ratings, which improves financing flexibility and lowers borrowing costs — a fundamental positive that markets rewarded (the article links this to a recent double‑digit pop). Yahoo – Why PR Is Up 8.7%
• Positive Sentiment: Multiple Zacks pieces flagged PR as a strong momentum name and highlighted rising earnings estimate revisions and Zacks Rank #1 additions — these quantitative signals often attract short‑term flows and momentum investors. Zacks – Momentum Stock
• Positive Sentiment: “Bull of the Day” coverage highlighted the name for energy‑sector strength — additional media attention can amplify buying interest from retail and thematic funds. Yahoo – Bull of the Day
• Neutral Sentiment: CNN’s market page lists PR among stocks in focus — useful for visibility but not a direct catalyst. CNN Markets – PR
• Negative Sentiment: Recent quarterly results showed an EPS beat but a revenue shortfall (revenue below consensus and down year‑over‑year), which limits the bullish case if top‑line weakness persists — worth watching in upcoming prints. (See recent company results and consensus revisions.)

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.