Permian Resources Co. (NYSE:PR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Permian Resources Co. (NYSE:PR) have been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $18.73.

Several research firms have recently commented on PR. JPMorgan Chase & Co. reduced their target price on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Benchmark reduced their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. UBS Group reduced their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets upgraded Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Wednesday, July 3rd. Finally, Wolfe Research assumed coverage on Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock.

Permian Resources Stock Down 1.4 %

Shares of NYSE:PR opened at $13.91 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources has a 52-week low of $12.34 and a 52-week high of $18.28. The company has a 50 day moving average of $13.96 and a two-hundred day moving average of $15.32. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 0.83 and a beta of 4.32.

Permian Resources (NYSE:PR) last released its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business’s revenue was up 99.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. As a group, analysts forecast that Permian Resources will post 1.48 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Monday, August 19th. Permian Resources’s payout ratio is 21.82%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm’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 $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the firm’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 sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Charles Bell sold 4,821 shares of the firm’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 transaction, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new position in shares of Permian Resources during the second quarter valued at $30,000. Hexagon Capital Partners LLC increased its holdings in shares of Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Permian Resources during the first quarter valued at $36,000. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Permian Resources during the second quarter valued at $40,000. Finally, UMB Bank n.a. increased its holdings in shares of Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.