Permian Resources (NYSE:PR) PT Lowered to $20.00 at Piper Sandler

Permian Resources (NYSE:PR - Get Free Report) had its price target decreased by investment analysts at Piper Sandler from $21.00 to $20.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price indicates a potential upside of 47.28% from the stock's previous close.

A number of other research firms have also weighed in on PR. Benchmark reissued a "buy" rating and set a $17.00 price target on shares of Permian Resources in a research report on Wednesday, August 7th. Royal Bank of Canada reissued an "outperform" rating and set a $17.00 price target on shares of Permian Resources in a research report on Monday. Truist Financial dropped their price target on shares of Permian Resources from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. BMO Capital Markets raised 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 research report on Wednesday, July 3rd. Finally, UBS Group dropped their price target on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.93.

Permian Resources Stock Down 4.5 %

Shares of NYSE PR traded down $0.64 during mid-day trading on Tuesday, reaching $13.58. 10,493,649 shares of the company's stock traded hands, compared to its average volume of 10,095,211. The stock has a market cap of $10.46 billion, a P/E ratio of 12.93, a PEG ratio of 0.85 and a beta of 4.32. The business has a 50-day simple moving average of $14.08 and a 200 day simple moving average of $15.55. Permian Resources has a 1-year low of $12.34 and a 1-year 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.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business's revenue was up 99.9% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. On average, analysts expect that Permian Resources will post 1.49 EPS for the current fiscal year.

Insider Transactions at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the business's stock in a transaction that occurred 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Robert Regan Shannon sold 4,822 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 61,399 shares of the company's stock, valued at approximately $855,288.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On Permian Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new position in Permian Resources in the 1st quarter worth approximately $32,000. Innealta Capital LLC bought a new stake in shares of Permian Resources in the 2nd quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in shares of Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after acquiring an additional 1,998 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Permian Resources in the 1st quarter worth approximately $36,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of Permian Resources in the 2nd quarter worth approximately $40,000. Hedge funds and other 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.