Shares of Permian Resources Corporation (NYSE:PR – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.50.
A number of research analysts have issued reports on PR shares. Morgan Stanley decreased their target price on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 16th. Piper Sandler cut their price target on Permian Resources from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, June 16th.
Check Out Our Latest Analysis on PR
Permian Resources Stock Down 1.3%
Permian Resources (NYSE:PR – Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts expect that Permian Resources will post 1.45 earnings per share for the current year.
Permian Resources Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources’s dividend payout ratio is currently 37.04%.
Institutional Investors Weigh In On Permian Resources
A number of large investors have recently modified their holdings of PR. Principal Securities Inc. boosted its holdings in shares of Permian Resources by 73.6% in 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. Sanctuary Advisors LLC boosted its holdings in shares of Permian Resources by 4.0% in the 4th quarter. Sanctuary Advisors LLC now owns 49,310 shares of the company’s stock valued at $742,000 after purchasing an additional 1,907 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Permian Resources by 42.5% in the 4th quarter. D.A. Davidson & CO. now owns 14,262 shares of the company’s stock valued at $205,000 after purchasing an additional 4,252 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Permian Resources in the 4th quarter valued at $149,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Permian Resources by 98.4% in 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. Institutional investors and hedge funds own 91.84% of the company’s stock.
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.
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