Weekly Research Analysts’ Ratings Updates for Permian Resources (PR)

Posted by Latisha Jones on Oct 14th, 2024

Permian Resources (NYSE: PR) recently received a number of ratings updates from brokerages and research firms:

10/14/2024 – Permian Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $17.00 price target on the stock.
10/1/2024 – Permian Resources had its price target lowered by analysts at Wells Fargo & Company from $22.00 to $21.00. They now have an “overweight” rating on the stock.
9/30/2024 – Permian Resources had its price target lowered by analysts at Truist Financial Co. from $22.00 to $18.00. They now have a “buy” rating on the stock.
9/30/2024 – Permian Resources is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “buy” rating and a $19.00 price target on the stock.
9/18/2024 – Permian Resources had its price target lowered by analysts at UBS Group AG from $19.00 to $18.00. They now have a “buy” rating on the stock.
9/16/2024 – Permian Resources had its price target lowered by analysts at Mizuho from $22.00 to $19.00. They now have an “outperform” rating on the stock.
9/12/2024 – Permian Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $20.00 to $17.00. They now have an “overweight” rating on the stock.
9/4/2024 – Permian Resources had its price target lowered by analysts at Susquehanna from $16.00 to $15.00. They now have a “neutral” rating on the stock.
8/15/2024 – Permian Resources had its price target lowered by analysts at Piper Sandler from $23.00 to $21.00. They now have an “overweight” rating on the stock.

Permian Resources Price Performance

Permian Resources stock traded down $0.29 during midday trading on Monday, reaching $14.23. 6,553,836 shares of the company were exchanged, compared to its average volume of 10,093,187. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.85 and a beta of 4.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. The firm’s 50-day simple moving average is $14.06 and its 200-day simple moving average is $15.57. Permian Resources Co. has a 1 year low of $12.34 and a 1 year high of $18.28.

Permian Resources (NYSE:PR – Get Free Report) last announced its quarterly 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. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. Permian Resources’s revenue was up 99.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. On average, analysts anticipate that Permian Resources Co. will post 1.49 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insider Activity

In related news, EVP John Charles Bell sold 4,821 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 value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP John Charles Bell sold 4,821 shares of the company’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 of the company’s stock, valued at approximately $1,075,911.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of Permian Resources

Several institutional investors have recently made changes to their positions in the business. Simplicity Wealth LLC lifted its position in shares of Permian Resources by 5.2% during the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after purchasing an additional 646 shares in the last quarter. GAMMA Investing LLC lifted its position in Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after purchasing an additional 716 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in shares of Permian Resources by 2.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after purchasing an additional 740 shares during the last quarter. Mount Yale Investment Advisors LLC raised its stake in shares of Permian Resources by 3.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after buying an additional 781 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock worth $3,379,000 after acquiring an additional 949 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.