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

Permian Resources Co. (NYSE:PR) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.67.

Several equities research analysts have recently commented on the stock. Bank of America decreased their target price on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Piper Sandler decreased their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada lowered their price target on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th.

Insider Activity at Permian Resources

In related news, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Charles Bell sold 2,804 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the sale, the executive vice president now directly owns 74,433 shares of the company’s stock, valued at approximately $1,044,294.99. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last quarter. Company insiders own 6.44% of the company’s stock.

Institutional Trading of Permian Resources

Hedge funds have recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new position in shares of Permian Resources during the 4th quarter valued at about $632,000. Wright Investors Service Inc. purchased a new position in Permian Resources during the fourth quarter valued at approximately $498,000. Charles Schwab Investment Management Inc. boosted its position in shares of Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock worth $62,407,000 after purchasing an additional 176,320 shares during the period. New York State Teachers Retirement System increased its stake in shares of Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock worth $3,881,000 after purchasing an additional 72,726 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in shares of Permian Resources during the 4th quarter valued at $27,104,000. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Down 0.5 %

Shares of NYSE PR opened at $11.91 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $12.46 and its 200 day simple moving average is $13.92. The firm has a market cap of $9.57 billion, a PE ratio of 7.22, a P/E/G ratio of 4.05 and a beta of 1.20. Permian Resources has a 12-month low of $10.01 and a 12-month high of $17.44.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.04%. Permian Resources’s payout ratio is 41.96%.

About Permian Resources

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.