Permian Resources Corporation (NYSE:PR) Receives $23.47 Consensus PT from Analysts

Shares of Permian Resources Corporation (NYSE:PR) have been assigned an average rating of “Buy” from the twenty-one ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and five have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $23.6471.

Several research analysts have weighed in on PR shares. Weiss Ratings upgraded Permian Resources from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Truist Financial upped their price target on Permian Resources from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Mizuho raised Permian Resources to a “strong-buy” rating in a report on Friday, July 31st. Citigroup dropped their price objective on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th.

Institutional Investors Weigh In On Permian Resources

Hedge funds have recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new stake in Permian Resources in the 4th quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its stake in shares of Permian Resources by 1,862.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after buying an additional 1,341 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Permian Resources in the 4th quarter valued at approximately $39,000. State of Wyoming lifted its holdings in shares of Permian Resources by 126.8% in the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after buying an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC purchased a new stake in shares of Permian Resources in the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Trading Down 2.1%

NYSE PR opened at $22.70 on Wednesday. The firm’s fifty day moving average is $20.53 and its two-hundred day moving average is $19.95. Permian Resources has a one year low of $11.92 and a one year high of $24.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $19.01 billion, a PE ratio of 15.03 and a beta of 0.48.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. Analysts expect that Permian Resources will post 2.24 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, September 16th. Permian Resources’s payout ratio is 42.38%.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.