Permian Resources Corporation (NYSE:PR) Receives Average Rating of “Moderate Buy” from Analysts

Permian Resources Corporation (NYSE:PR) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, twelve have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.7143.

Several equities analysts have recently weighed in on PR shares. Wall Street Zen raised shares of Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Permian Resources in a research report on Monday, December 29th. UBS Group upped their price objective on shares of Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Zacks Research lowered shares of Permian Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Finally, Piper Sandler dropped their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th.

Insider Buying and Selling

In other news, CEO James H. Walter sold 467,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $6,374,751.00. Following the completion of the sale, the chief executive officer directly owned 1,010,138 shares in the company, valued at $13,768,180.94. The trade was a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Regan Shannon sold 106,405 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $1,450,300.15. Following the transaction, the executive vice president directly owned 360,667 shares of the company’s stock, valued at approximately $4,915,891.21. The trade was a 22.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,210,456 shares of company stock valued at $30,231,728 in the last 90 days. Corporate insiders own 6.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Permian Resources by 4.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after acquiring an additional 607 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Permian Resources by 5.4% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after purchasing an additional 706 shares in the last quarter. Curated Wealth Partners LLC raised its stake in Permian Resources by 1.1% in the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after purchasing an additional 747 shares during the last quarter. Chilton Capital Management LLC raised its stake in Permian Resources by 3.5% in the 3rd quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after purchasing an additional 800 shares during the last quarter. Finally, SCS Capital Management LLC lifted its holdings in Permian Resources by 0.6% in the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock valued at $1,923,000 after purchasing an additional 870 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 3.2%

Shares of PR opened at $16.96 on Friday. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 15.56 and a beta of 0.77. Permian Resources has a 52 week low of $10.01 and a 52 week high of $17.04. The stock’s 50-day moving average price is $14.62 and its 200-day moving average price is $13.80. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Permian Resources will post 1.45 EPS for the current year.

About Permian Resources

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.