Permian Resources (NASDAQ:PR) PT Lowered to $18.00 at UBS Group

Permian Resources (NASDAQ:PR - Get Free Report) had its target price decreased by stock analysts at UBS Group from $19.00 to $18.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 29.87% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Mizuho cut their price target on Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Monday. Piper Sandler decreased 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. Truist Financial boosted their price objective on shares of Permian Resources from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Susquehanna reduced their price objective on Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Finally, Benchmark reissued a "buy" rating and issued a $17.00 target price on shares of Permian Resources in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Permian Resources has a consensus rating of "Moderate Buy" and an average price target of $19.50.

Permian Resources Price Performance

NASDAQ:PR traded down $0.02 on Wednesday, reaching $13.86. The stock had a trading volume of 9,494,620 shares, compared to its average volume of 9,937,665. The company has a market capitalization of $10.67 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.71 and a beta of 4.33. The stock has a fifty day moving average price of $14.66 and a 200-day moving average price of $15.87. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources has a 1-year low of $12.34 and a 1-year high of $18.28.

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

Insider Buying and Selling

In other news, EVP John Charles Bell sold 4,821 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Permian Resources

A number of large investors have recently added to or reduced their stakes in the business. Truist Financial Corp grew its stake in Permian Resources by 9.4% in the 4th quarter. Truist Financial Corp now owns 12,653 shares of the company's stock valued at $172,000 after buying an additional 1,086 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Permian Resources in the fourth quarter valued at approximately $394,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Permian Resources in the fourth quarter valued at approximately $472,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Permian Resources by 159.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,475 shares of the company's stock worth $374,000 after purchasing an additional 16,896 shares during the period. Finally, Securian Asset Management Inc. lifted its holdings in Permian Resources by 48.8% during the 4th quarter. Securian Asset Management Inc. now owns 35,088 shares of the company's stock worth $477,000 after purchasing an additional 11,505 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Permian Resources Company Profile

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.