Investment Analysts’ Weekly Ratings Updates for Permian Resources (PR)

Several brokerages have updated their recommendations and price targets on shares of Permian Resources (NASDAQ: PR) in the last few weeks:

• 9/18/2024 – Permian Resources had its price target lowered by analysts at UBS Group AG from $19.00 to $18.00. They now have a “buy” rating on the stock.
• 9/16/2024 – Permian Resources had its price target lowered by analysts at Mizuho from $22.00 to $19.00. They now have an “outperform” rating on the stock.
• 9/12/2024 – Permian Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $20.00 to $17.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – Permian Resources had its price target lowered by analysts at Susquehanna from $16.00 to $15.00. They now have a “neutral” rating on the stock.
• 8/15/2024 – Permian Resources had its price target lowered by analysts at Piper Sandler from $23.00 to $21.00. They now have an “overweight” rating on the stock.
• 8/12/2024 – Permian Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $20.00 price target on the stock.
• 8/9/2024 – Permian Resources had its price target lowered by analysts at Citigroup Inc. from $20.00 to $18.00. They now have a “buy” rating on the stock.
• 8/9/2024 – Permian Resources had its price target lowered by analysts at UBS Group AG from $21.00 to $19.00. They now have a “buy” rating on the stock.
• 8/8/2024 – Permian Resources had its price target lowered by analysts at Susquehanna from $18.00 to $16.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Permian Resources had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock.
• 7/30/2024 – Permian Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $20.00 price target on the stock.
• 7/30/2024 – Permian Resources had its price target raised by analysts at Truist Financial Co. from $21.00 to $22.00. They now have a “buy” rating on the stock.

Permian Resources Price Performance

NASDAQ PR traded up $0.02 on Tuesday, reaching $14.20. The company had a trading volume of 2,307,171 shares, compared to its average volume of 10,057,663. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average price is $14.46 and its 200 day moving average price is $15.83. The stock has a market capitalization of $10.93 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 99.9% compared to the same quarter last year. As a group, equities analysts predict that Permian Resources Co. will post 1.57 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.69%. Permian Resources’s dividend payout ratio (DPR) is 21.82%.

Insider Buying and Selling at Permian Resources

In other news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at $855,288.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Institutional Trading of Permian Resources

Institutional investors have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new position in Permian Resources during the 1st quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after purchasing an additional 1,178 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Permian Resources in the second quarter worth about $30,000. Rise Advisors LLC purchased a new stake in Permian Resources in the first quarter valued at approximately $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in Permian Resources in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.