Permian Resources (NYSE:PR) Price Target Raised to $20.00

Permian Resources (NYSE:PR) had its price objective hoisted by Truist Financial from $18.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 34.14% from the stock’s current price.

A number of other equities analysts also recently weighed in on PR. Wolfe Research initiated coverage on shares of Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho lowered their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Susquehanna reduced their price target on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. The Goldman Sachs Group assumed coverage on shares of Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Benchmark reduced their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average target price of $18.87.

Permian Resources Stock Down 0.4 %

NYSE:PR traded down $0.06 during trading hours on Friday, reaching $14.91. 638,874 shares of the stock were exchanged, compared to its average volume of 10,106,085. Permian Resources has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a 50 day moving average of $13.88 and a 200 day moving average of $15.11. The stock has a market cap of $11.97 billion, a PE ratio of 9.05, a PEG ratio of 0.88 and a beta of 4.34.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 11.43% and a net margin of 21.20%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 99.9% compared to the same quarter last year. On average, equities analysts expect that Permian Resources will post 1.46 earnings per share for the current year.

Insider Buying and Selling

In other Permian Resources news, EVP John Charles Bell sold 4,821 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 $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John Charles Bell sold 4,821 shares of the company’s 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 completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its stake in shares of Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Permian Resources during the 2nd quarter valued at about $30,000. Transcendent Capital Group LLC purchased a new stake in shares of Permian Resources during the 1st quarter valued at about $36,000. UMB Bank n.a. boosted its holdings in shares of Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Permian Resources during the 2nd quarter valued at about $40,000. 91.84% of the stock is currently owned by institutional investors.

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.