Permian Resources (NASDAQ:PR) PT Raised to $23.00 at Truist Financial

Permian Resources (NASDAQ:PR) had its target price upped by stock analysts at Truist Financial from $22.00 to $23.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 33.80% from the company’s current price.

PR has been the subject of a number of other research reports. Susquehanna raised their price objective on shares of Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday. Piper Sandler raised their target price on shares of Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Citigroup raised their target price on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Mizuho raised their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Benchmark lifted their price target on shares of Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Permian Resources Stock Performance

PR opened at $17.19 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 fifty day moving average price is $16.51 and its two-hundred day moving average price is $14.63. Permian Resources has a 1-year low of $8.94 and a 1-year high of $18.28. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 14.82 and a beta of 4.35.

Permian Resources (NASDAQ:PR) last announced its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. On average, analysts expect that Permian Resources will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brent P. Jensen sold 203,687 shares of Permian Resources stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Brent P. Jensen sold 203,687 shares of Permian Resources stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the sale, the chief accounting officer now owns 1,047,610 shares in the company, valued at approximately $15,337,010.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,916,943 shares of company stock valued at $516,796,999 over the last three months. 23.14% of the stock is owned by company insiders.

Institutional Trading of Permian Resources

Several large investors have recently added to or reduced their stakes in PR. Global Retirement Partners LLC bought a new stake in shares of Permian Resources during the 1st quarter valued at $25,000. Rise Advisors LLC bought a new stake in shares of Permian Resources during the 1st quarter valued at $32,000. Parallel Advisors LLC boosted its holdings in shares of Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after buying an additional 1,178 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Permian Resources during the 4th quarter valued at $33,000. Finally, GAMMA Investing LLC bought a new stake in shares of Permian Resources during the 4th quarter valued at $43,000. Institutional investors own 91.84% of the company’s stock.

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.