Permian Resources Co. (NASDAQ:PR – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.93.
PR has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Permian Resources in a research note on Monday, August 12th. Truist Financial boosted their target price 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. Piper Sandler dropped their price target on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets upgraded Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Wednesday, July 3rd. Finally, Citigroup lowered their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.
Get Our Latest Stock Analysis on Permian Resources
Hedge Funds Weigh In On Permian Resources
Permian Resources Stock Performance
Permian Resources stock opened at $13.58 on Friday. The company has a market cap of $10.90 billion, a PE ratio of 12.35, a P/E/G ratio of 0.77 and a beta of 4.33. Permian Resources has a 12 month low of $12.34 and a 12 month high of $18.28. The company has a fifty day moving average price of $15.19 and a two-hundred day moving average price of $15.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50.
Permian Resources (NASDAQ:PR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $0.27 EPS. The company’s quarterly revenue was up 99.9% on a year-over-year basis. Research analysts expect that Permian Resources will post 1.63 earnings per share for the current year.
Permian Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s payout ratio is 21.82%.
About Permian Resources
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.
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