Permian Resources (NYSE:PR) Rating Increased to Strong-Buy at TD Cowen

Permian Resources (NYSE:PR) was upgraded by TD Cowen to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler decreased their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. The Goldman Sachs Group boosted their target price on shares of Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Morgan Stanley lowered their price objective on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a report on Monday, December 29th. Finally, UBS Group raised their target price on Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Permian Resources Stock Up 1.2%

Shares of NYSE PR opened at $17.14 on Monday. The company has a market capitalization of $14.21 billion, a P/E ratio of 15.72 and a beta of 0.76. Permian Resources has a 1 year low of $10.01 and a 1 year high of $17.29. The company has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $13.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 106,399 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $1,450,218.37. Following the transaction, the executive vice president directly owned 376,442 shares of the company’s stock, valued at $5,130,904.46. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Guy M. Oliphint sold 172,904 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $2,356,681.52. Following the completion of the sale, the executive vice president directly owned 616,683 shares in the company, valued at $8,405,389.29. This trade represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,210,456 shares of company stock valued at $30,231,728 in the last ninety days. 12.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Permian Resources

Hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Permian Resources by 4.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after acquiring an additional 607 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in Permian Resources by 5.4% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after acquiring an additional 706 shares in the last quarter. Curated Wealth Partners LLC increased its stake in Permian Resources by 1.1% during the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after purchasing an additional 747 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in shares of Permian Resources by 3.5% in the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after purchasing an additional 800 shares in the last quarter. Finally, SCS Capital Management LLC lifted its position in shares of Permian Resources by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock worth $1,923,000 after buying an additional 870 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.