Permian Resources (NASDAQ:PR) PT Lowered to $18.00

Permian Resources (NASDAQ:PR) had its price target decreased by UBS Group from $19.00 to $18.00 in a research report sent to investors on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on PR. Truist Financial raised their price target on shares of Permian Resources from $21.00 to $22.00 and gave the company a buy rating in a research note on Tuesday, July 30th. 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. BMO Capital Markets raised shares of 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. Benchmark reissued a buy rating and set a $17.00 target price on shares of Permian Resources in a research note on Wednesday, August 7th. Finally, Susquehanna decreased their price target on shares of Permian Resources from $16.00 to $15.00 and set a neutral rating for the company in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $19.50.

Permian Resources Stock Performance

NASDAQ PR opened at $13.90 on Wednesday. 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 $10.70 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.77 and a beta of 4.33. The firm’s 50 day simple moving average is $14.51 and its 200 day simple moving average is $15.83. Permian Resources has a 1 year low of $12.34 and a 1 year high of $18.28.

Permian Resources (NASDAQ:PR) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 99.9% on a year-over-year basis. As a group, research analysts expect that Permian Resources will post 1.57 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insider Buying and Selling at Permian Resources

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. bought a new position in shares of Permian Resources in the 1st quarter worth about $26,000. Parallel Advisors LLC raised its holdings in Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after buying an additional 1,178 shares during the last quarter. Innealta Capital LLC purchased a new position in Permian Resources in the second quarter worth about $30,000. Rise Advisors LLC purchased a new position in Permian Resources in the first quarter worth about $32,000. Finally, Transcendent Capital Group LLC purchased a new position in Permian Resources in the first quarter worth about $36,000. 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.