Permian Resources Corporation (NYSE:PR) Receives $18.92 Average Target Price from Analysts

Permian Resources Corporation (NYSE:PR) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.6923.

Several research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Permian Resources from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company increased their price objective on Permian Resources from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Benchmark downgraded shares of Permian Resources from a “buy” rating to a “hold” rating in a research report on Thursday. Susquehanna reduced their target price on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Finally, Bank of America reiterated a “neutral” rating and set a $16.00 price target (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th.

Permian Resources Stock Up 0.2%

Shares of NYSE:PR opened at $18.88 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The firm has a market cap of $15.66 billion, a P/E ratio of 15.10 and a beta of 0.66. Permian Resources has a 12 month low of $10.01 and a 12 month high of $19.38. The company’s 50-day moving average price is $15.99 and its two-hundred day moving average price is $14.40.

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

Permian Resources Increases Dividend

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

Insider Activity

In other news, EVP Robert Regan Shannon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.28, for a total value of $91,400.00. Following the transaction, the executive vice president directly owned 1,351,802 shares in the company, valued at $24,710,940.56. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Charles Bell sold 158,385 shares of Permian Resources stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.39, for a total value of $2,912,700.15. Following the sale, the executive vice president directly owned 1,567,172 shares of the company’s stock, valued at approximately $28,820,293.08. This trade represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,965,093 shares of company stock worth $62,487,101. Corporate insiders own 6.44% of the company’s stock.

Institutional Investors Weigh In On Permian Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SHP Wealth Management acquired a new position in shares of Permian Resources during the 4th quarter worth about $27,000. Farther Finance Advisors LLC increased its stake in shares of Permian Resources by 114.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after acquiring an additional 1,047 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Permian Resources by 154.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after acquiring an additional 1,391 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Permian Resources in the 4th quarter valued at approximately $39,000. Finally, Parkside Financial Bank & Trust boosted its stake in Permian Resources by 90.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after acquiring an additional 1,357 shares during the last quarter. Institutional investors 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 moved to an “overweight” rating, implying material upside and likely supporting buying interest. Piper Sandler raises target
• Positive Sentiment: UBS increased its target to $23 and kept a “buy” rating, another buy-side endorsement that can attract institutional flows. UBS raises target
• Positive Sentiment: Citigroup lifted its target to $21 and reiterated a “buy” note, adding to the cluster of upgrades. Citigroup raises target
• Positive Sentiment: Permian raised its quarterly dividend to $0.16 (ex?div Mar 17; payable Mar 31), increasing yield and making the shares more attractive to income-focused investors. MarketBeat — Dividend announcement
• Positive Sentiment: Large institutional purchases reported earlier (BNY Mellon, Vanguard, Millennium et al.) show heavy institutional ownership and recent inflows that can support the stock on positive news. MarketBeat — Institutional holdings
• Neutral Sentiment: Q4 results were mixed — EPS beat ($0.37 vs. $0.28) but revenue missed and was down ~9.8% YoY. The print supports valuation but raises questions on top-line momentum. MarketBeat — Q4 results
• Neutral Sentiment: Analyst coverage roundup (Benzinga) highlights divergent targets/ratings — useful context for trading but not a single directional catalyst. Benzinga analyst roundup
• Negative Sentiment: Clustered insider selling: multiple senior executives disclosed multi?million?dollar sales (including large blocks by the CEO and other EVPs). Heavy insider dispositions can sap sentiment and raise questions about timing/intent. InsiderTrades — Insider selling
• Negative Sentiment: Benchmark downgraded PR from “buy” to “hold,” which could reduce urgency among some buy?side managers despite other upgrades. MSN — 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.