Permian Resources (NYSE:PR - Get Free Report) had its price objective reduced by equities research analysts at Susquehanna from $20.00 to $19.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's price target suggests a potential upside of 55.04% from the company's current price.
A number of other equities research analysts have also weighed in on PR. JPMorgan Chase & Co. dropped their price objective on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Truist Financial raised their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler lowered their price target on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Finally, Williams Trading set a $19.00 price objective on Permian Resources in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.
Get Our Latest Research Report on Permian Resources
Permian Resources Stock Up 0.5 %
PR traded up $0.06 during trading on Tuesday, hitting $12.26. The stock had a trading volume of 928,644 shares, compared to its average volume of 9,157,963. The stock has a 50 day simple moving average of $12.84 and a two-hundred day simple moving average of $14.05. The company has a market capitalization of $9.85 billion, a PE ratio of 7.43, a PEG ratio of 4.05 and a beta of 3.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources has a twelve month low of $10.01 and a twelve month high of $17.62.
Insider Transactions at Permian Resources
In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares in the company, valued at $1,044,294.99. This represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company's stock, valued at $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $135,687. Corporate insiders own 12.80% of the company's stock.
Institutional Investors Weigh In On Permian Resources
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Permian Resources by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock valued at $944,487,000 after purchasing an additional 870,622 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Permian Resources by 60.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after buying an additional 12,306,854 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Permian Resources in the fourth quarter valued at approximately $431,676,000. Massachusetts Financial Services Co. MA lifted its holdings in Permian Resources by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after acquiring an additional 291,444 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Permian Resources by 7.2% during the fourth quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company's stock worth $196,025,000 after acquiring an additional 909,740 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.
About Permian Resources
(
Get Free Report)
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.
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