Permian Resources Co. (NYSE:PR) Given Consensus Rating of “Moderate Buy” by Brokerages

Permian Resources Co. (NYSE:PR) has earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $19.13.

PR has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley initiated coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company.

Permian Resources Stock Performance

NYSE:PR opened at $14.03 on Friday. Permian Resources has a 1-year low of $12.62 and a 1-year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $14.48. The firm has a market cap of $11.27 billion, a PE ratio of 8.50, a P/E/G ratio of 4.04 and a beta of 4.28.

Insider Activity

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On Permian Resources

Large investors have recently added to or reduced their stakes in the company. Principal Securities Inc. grew its holdings in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Permian Resources during the 4th quarter valued at $31,000. Global Retirement Partners LLC grew its holdings in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC acquired a new position in Permian Resources during the 4th quarter worth $41,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Company Profile

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.