Permian Resources (NASDAQ:PR) PT Raised to $18.00 at Susquehanna

Permian Resources (NASDAQ:PR) had its target price boosted by analysts at Susquehanna from $16.00 to $18.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price objective points to a potential upside of 4.71% from the company’s previous close.

Several other research analysts also recently commented on the company. Citigroup increased their price objective on Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Mizuho increased their price objective on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, Piper Sandler increased their price objective on Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

Permian Resources Trading Up 0.1 %

Shares of PR stock opened at $17.19 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 14.82 and a beta of 4.35. The stock has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $14.63. Permian Resources has a 1-year low of $8.94 and a 1-year high of $18.28.

Permian Resources (NASDAQ:PR) last announced its earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. On average, equities research analysts expect that Permian Resources will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling at Permian Resources

In other news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Brent P. Jensen sold 203,687 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the sale, the chief accounting officer now directly owns 1,062,345 shares of the company’s stock, valued at approximately $15,457,119.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brent P. Jensen sold 1,853 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the sale, the chief accounting officer now directly owns 1,047,610 shares in the company, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock worth $516,796,999 in the last three months. 23.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Permian Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in shares of Permian Resources in the 1st quarter valued at approximately $25,000. Louisiana State Employees Retirement System raised its stake in shares of Permian Resources by 11.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 129,900 shares of the company’s stock valued at $2,294,000 after acquiring an additional 13,200 shares during the period. Amalgamated Bank grew its holdings in shares of Permian Resources by 1.3% in the first quarter. Amalgamated Bank now owns 243,834 shares of the company’s stock valued at $4,306,000 after purchasing an additional 3,122 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Permian Resources by 15.3% in the first quarter. New Mexico Educational Retirement Board now owns 86,500 shares of the company’s stock valued at $1,528,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in shares of Permian Resources by 2.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after purchasing an additional 740 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.