Permian Resources (NYSE:PR) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Permian Resources (NYSE:PR - Free Report) in a report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $19.00 price objective on the stock.

Several other brokerages have also recently commented on PR. Truist Financial boosted their price target on Permian Resources from $21.00 to $22.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Wolfe Research assumed coverage on shares of Permian Resources in a research report on Thursday, July 18th. They issued a peer perform rating for the company. BMO Capital Markets upgraded shares of Permian Resources from a market perform rating to an outperform rating and set a $21.00 price target on the stock in a report on Wednesday, July 3rd. Citigroup decreased their price objective on shares of Permian Resources from $20.00 to $18.00 and set a buy rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price target on Permian Resources from $20.00 to $17.00 and set an overweight rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Permian Resources has an average rating of Moderate Buy and a consensus target price of $19.20.

Permian Resources Stock Down 0.3 %

Permian Resources stock traded down $0.04 during trading hours on Monday, hitting $13.47. The company had a trading volume of 5,904,069 shares, compared to its average volume of 10,063,200. Permian Resources has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market capitalization of $10.37 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.81 and a beta of 4.33. The firm's fifty day moving average is $14.24 and its 200-day moving average is $15.76.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share 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 business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $0.27 earnings per share. Permian Resources's revenue for the quarter was up 99.9% compared to the same quarter last year. On average, research analysts forecast that Permian Resources will post 1.53 earnings per share for the current year.

Permian Resources Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.78%. Permian Resources's payout ratio is 21.82%.

Insider Buying and Selling

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

Institutional Trading of Permian Resources

Institutional investors have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new stake in Permian Resources in the 1st quarter valued at $26,000. Parallel Advisors LLC grew its holdings in shares of Permian Resources by 117.0% in the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock worth $30,000 after purchasing an additional 1,178 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Permian Resources during the 2nd quarter worth about $30,000. Rise Advisors LLC bought a new position in Permian Resources during the 1st quarter valued at about $32,000. Finally, Transcendent Capital Group LLC acquired a new position in Permian Resources in the first quarter valued at about $36,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.