Mizuho Increases Permian Resources (NASDAQ:PR) Price Target to $20.00

Permian Resources (NASDAQ:PR) had its target price increased by stock analysts at Mizuho from $18.00 to $20.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 13.64% from the company’s previous close.

PR has been the topic of a number of other reports. Susquehanna increased their price target on shares of Permian Resources from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Raymond James started coverage on shares of Permian Resources in a research report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price target on the stock. Bank of America started coverage on shares of Permian Resources in a research report on Friday, January 5th. They set a “neutral” rating and a $15.00 price target on the stock. Truist Financial reduced their price target on shares of Permian Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Wells Fargo & Company increased their price target on shares of Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.77.

Permian Resources Stock Down 0.5 %

PR stock opened at $17.60 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $16.15 and its 200 day moving average is $14.48. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 15.17 and a beta of 4.35. Permian Resources has a 1-year low of $8.94 and a 1-year high of $18.28.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Sell-side analysts predict that Permian Resources will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Permian Resources news, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Permian Resources news, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Quinn sold 18,076,849 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $15.71, for a total value of $283,987,297.79. Following the transaction, the director now directly owns 71,056,620 shares of the company’s stock, valued at approximately $1,116,299,500.20. The disclosure for this sale can be found here. Insiders sold 32,916,943 shares of company stock valued at $516,796,999 over the last quarter. 23.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Permian Resources

Large investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in Permian Resources in the 1st quarter worth about $32,000. Parallel Advisors LLC increased its holdings in Permian Resources by 117.0% in the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after buying an additional 1,178 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Permian Resources in the 4th quarter worth about $33,000. Quarry LP bought a new stake in Permian Resources in the 1st quarter worth about $33,000. Finally, GAMMA Investing LLC bought a new stake in Permian Resources in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.