Permian Resources (NYSE:PR) Stock Rating Upgraded by Seaport Research Partners

Permian Resources (NYSE:PR) was upgraded by equities research analysts at Seaport Research Partners to a “strong-buy” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

Other research analysts have also recently issued reports about the company. Morgan Stanley restated an “overweight” rating on shares of Permian Resources in a research note on Wednesday, August 19th. Citigroup dropped their target price on Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Permian Resources from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $29.00 price objective on shares of Permian Resources in a research note on Thursday, August 27th. Six research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.65.

Permian Resources Price Performance

NYSE PR opened at $23.72 on Wednesday. The company has a market cap of $19.87 billion, a price-to-earnings ratio of 15.71 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s fifty day moving average price is $20.91 and its 200 day moving average price is $20.16. Permian Resources has a 1 year low of $11.92 and a 1 year high of $24.09.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%.The firm’s revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, equities research analysts forecast that Permian Resources will post 2.24 earnings per share for the current year.

Insider Activity

In related news, EVP Robert Shannon sold 5,104 shares of Permian Resources stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total transaction of $121,220.00. Following the completion of the transaction, the executive vice president directly owned 1,346,698 shares in the company, valued at approximately $31,984,077.50. This trade represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Guy M. Oliphint sold 5,103 shares of Permian Resources stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total value of $121,196.25. Following the transaction, the executive vice president owned 537,400 shares of the company’s stock, valued at approximately $12,763,250. This represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,699 shares of company stock valued at $372,851 in the last quarter. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Permian Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Permian Resources by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after purchasing an additional 4,533,732 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Permian Resources by 115.5% during the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after buying an additional 13,483,136 shares in the last quarter. State Street Corp grew its position in Permian Resources by 2.0% during the fourth quarter. State Street Corp now owns 23,553,393 shares of the company’s stock valued at $330,454,000 after buying an additional 460,158 shares during the period. Wellington Management Group LLP grew its position in Permian Resources by 3.9% during the second quarter. Wellington Management Group LLP now owns 20,156,113 shares of the company’s stock valued at $371,074,000 after buying an additional 763,059 shares during the period. Finally, Boston Partners increased its holdings in Permian Resources by 76.2% in the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after buying an additional 7,503,654 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Key Stories Impacting Permian Resources

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Wells Fargo upgraded Permian Resources (PR) to “strong buy,” adding to an analyst backdrop that includes six Strong Buy and 12 Buy ratings. The company’s latest quarterly results also exceeded expectations, with earnings per share of $0.69 versus the $0.59 consensus and revenue of $1.86 billion versus the $1.66 billion estimate. Wells Fargo upgrades Permian Resources
• Positive Sentiment: Permian Resources announced a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a yield of approximately 2.7%. The payout reinforces the company’s shareholder-return appeal, although investors should note the September 16 ex-dividend date. Permian Resources dividend announcement
• Neutral Sentiment: EVPs John Bell, Robert Shannon and Guy Oliphint each sold roughly 5,100–5,500 shares at $23.75, collectively generating about $373,000. The filings state that the sales covered tax-withholding obligations tied to vested equity awards, reducing their significance as a bearish insider-confidence signal. Permian Resources executive stock sales
• Neutral Sentiment: PR’s consensus price target is $23.65, slightly below the reported $23.72 trading level, suggesting that much of the near-term analyst optimism may already be reflected in the stock. Its valuation remains supported by a 15.71 price-to-earnings ratio, 21.52% net margin and 55.1% year-over-year revenue growth.

About Permian Resources

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.