Permian Resources (NYSE:PR) Downgraded by Benchmark to Hold

Benchmark cut shares of Permian Resources (NYSE:PR) from a buy rating to a hold rating in a report issued on Thursday, Marketbeat Ratings reports.

A number of other analysts have also recently commented on PR. Susquehanna cut their price objective on Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Piper Sandler cut their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. TD Cowen upgraded shares of Permian Resources to a “strong-buy” rating in a research report on Monday, February 9th. Bank of America reiterated a “neutral” rating and issued a $16.00 target price (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $21.00 target price on shares of Permian Resources in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

Permian Resources Stock Up 1.7%

PR opened at $18.85 on Thursday. The company has a fifty day moving average of $15.89 and a two-hundred day moving average of $14.34. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 15.08 and a beta of 0.66. Permian Resources has a fifty-two week low of $10.01 and a fifty-two week high of $19.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts expect that Permian Resources will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.16 dividend. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 17th. Permian Resources’s payout ratio is 51.20%.

Insider Activity

In related news, CEO William M. Hickey III sold 898,423 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the completion of the sale, the chief executive officer owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. This represents a 8.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Regan Shannon sold 106,405 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $1,450,300.15. Following the completion of the sale, the executive vice president 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,965,093 shares of company stock valued at $62,487,101 in the last ninety days. 6.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Permian Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Permian Resources by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock worth $1,057,930,000 after buying an additional 3,941,318 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Permian Resources by 16.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock worth $443,856,000 after acquiring an additional 4,533,732 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after acquiring an additional 13,483,136 shares during the period. State Street Corp boosted its position in shares of Permian Resources by 2.0% during the 4th quarter. State Street Corp now owns 23,553,393 shares of the company’s stock valued at $330,454,000 after acquiring an additional 460,158 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Permian Resources by 8.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock valued at $236,207,000 after acquiring an additional 1,421,059 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Key Headlines Impacting Permian Resources

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Piper Sandler raised its price target to $24 and reiterated an Overweight rating, implying roughly a 27% upside from current levels — a strong bullish signal that likely helped lift the stock. Piper Sandler PT raise
• Positive Sentiment: UBS raised its price target to $23 and set a Buy rating (about a 22% implied upside), adding further analyst backing that supports higher investor demand. UBS PT raise
• Neutral Sentiment: Aggregated analyst commentary roundups (coverage summarized by Benzinga) provide broader context on expectations for Permian Resources but do not add a single directional surprise beyond the PT changes. Analyst roundup
• Negative Sentiment: Multiple insiders disclosed sizable sales this week: William M. Hickey III sold 898,423 shares and James H. Walter sold 673,425 shares (each sale at ~ $18.38), plus several EVP-level sales (large percentage reductions for some VPs). These block sales could pressure sentiment or be interpreted as material insider liquidity. Insider filings (sample)
• Negative Sentiment: Benchmark Co. downgraded PR from Buy to Hold, removing one source of buy-side conviction and tempering enthusiasm from some investors. Benchmark downgrade

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.