Permian Resources Co. (NASDAQ:PR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Permian Resources Co. (NASDAQ:PR - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $20.00.

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price target on Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, August 15th. UBS Group decreased their price target on Permian Resources from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Citigroup decreased their price target on Permian Resources from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Benchmark reiterated a "buy" rating and issued a $17.00 price target on shares of Permian Resources in a research note on Wednesday, August 7th. Finally, BMO Capital Markets upgraded Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Wednesday, July 3rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new position in shares of Permian Resources in the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. acquired a new position in Permian Resources during the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Permian Resources during the 1st quarter worth approximately $32,000. Innealta Capital LLC acquired a new position in Permian Resources during the 2nd quarter worth approximately $30,000. Finally, Transcendent Capital Group LLC acquired a new position in Permian Resources during the 1st quarter worth approximately $36,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Performance

Shares of NASDAQ:PR traded down $0.22 on Friday, reaching $14.24. 4,612,263 shares of the company's stock were exchanged, compared to its average volume of 9,994,479. The company has a fifty day moving average of $15.30 and a 200-day moving average of $15.98. Permian Resources has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.79 and a beta of 4.37. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NASDAQ:PR - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business's revenue was up 99.9% compared to the same quarter last year. On average, research analysts predict that Permian Resources will post 1.63 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, August 19th. Permian Resources's dividend 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.