Permian Resources (NASDAQ:PR) PT Lowered to $15.00 at Susquehanna

Permian Resources (NASDAQ:PR) had its price objective reduced by Susquehanna from $16.00 to $15.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

PR has been the subject of a number of other research reports. Benchmark reaffirmed a buy rating and set a $17.00 target price on shares of Permian Resources in a report on Wednesday, August 7th. BMO Capital Markets raised shares of Permian Resources from a market perform rating to an outperform rating and set a $21.00 price objective for the company in a research note on Wednesday, July 3rd. Bank of America reissued a buy rating and issued a $20.00 target price on shares of Permian Resources in a research note on Friday, June 14th. Royal Bank of Canada restated an outperform rating and issued a $20.00 price target on shares of Permian Resources in a research report on Monday, August 12th. Finally, Truist Financial increased their price target on Permian Resources from $21.00 to $22.00 and gave the company a buy rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $19.93.

Permian Resources Trading Down 1.7 %

Shares of Permian Resources stock opened at $13.25 on Wednesday. Permian Resources has a twelve month low of $12.34 and a twelve month high of $18.28. The firm’s 50-day moving average price is $15.08 and its 200 day moving average price is $15.97. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $10.63 billion, a PE ratio of 12.05, a P/E/G ratio of 0.73 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last released its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $0.27 earnings per share. The business’s quarterly revenue was up 99.9% compared to the same quarter last year. On average, sell-side analysts predict that Permian Resources will post 1.63 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Permian Resources

Institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Permian Resources in the first quarter worth $25,000. YHB Investment Advisors Inc. purchased a new position in Permian Resources in the first quarter valued at $26,000. Parallel Advisors LLC grew its stake in Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares in the last quarter. Innealta Capital LLC purchased a new stake in Permian Resources during the 2nd quarter worth about $30,000. Finally, Rise Advisors LLC acquired a new stake in Permian Resources in the 1st quarter valued at about $32,000. 91.84% of the stock is owned by institutional investors and hedge funds.

About Permian Resources

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.