KeyCorp Upgrades Permian Resources (NYSE:PR) to Strong-Buy

Key Points

• KeyCorp upgraded Permian Resources (PR) to a "strong-buy" and issued FY2026 EPS of $2.18 and FY2027 EPS of $2.28; multiple analysts have raised price targets and the consensus target price sits at $21.67.
• Permian beat EPS in its most recent quarter ($0.37 vs. $0.28 est.) but revenue fell 9.8% year-over-year to $1.17 billion; the stock trades near $21.35 with a market cap of about $17.9 billion and a P/E of 17.1.
• CEO sold 673,425 shares (and the EVP sold 4,999), with insiders selling 3.13 million shares worth ~$58.8 million over the last 90 days; institutional investors hold roughly 91.8% of the stock while insiders own 6.44%.

Permian Resources (NYSE:PR - Get Free Report) was upgraded by equities researchers at KeyCorp to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports. KeyCorp also issued estimates for Permian Resources' Q1 2026 earnings at $0.39 EPS, Q2 2026 earnings at $0.55 EPS, Q3 2026 earnings at $0.63 EPS, Q4 2026 earnings at $0.62 EPS, FY2026 earnings at $2.18 EPS, Q1 2027 earnings at $0.61 EPS, Q2 2027 earnings at $0.56 EPS, Q3 2027 earnings at $0.54 EPS, Q4 2027 earnings at $0.56 EPS and FY2027 earnings at $2.28 EPS.

Several other research analysts have also recently issued reports on the company. UBS Group raised their price objective on Permian Resources from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Truist Financial started coverage on Permian Resources in a research note on Tuesday, March 24th. They issued a "buy" rating and a $24.00 price objective for the company. Mizuho raised their target price on Permian Resources from $19.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, December 12th. Wells Fargo & Company raised their target price on Permian Resources from $17.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, March 16th. Finally, Susquehanna dropped their target price on Permian Resources from $20.00 to $18.00 and set a "positive" rating on the stock in a report on Monday, January 26th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Permian Resources presently has an average rating of "Buy" and a consensus target price of $21.67.

Permian Resources Trading Up 1.1%

Shares of NYSE:PR opened at $21.35 on Monday. Permian Resources has a 52-week low of $10.01 and a 52-week high of $21.99. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.15 and a beta of 0.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $18.65 and a 200-day moving average price of $15.40.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period last year, the business posted $0.36 earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts predict that Permian Resources will post 1.45 EPS for the current year.

Insider Activity

In other Permian Resources news, EVP Guy M. Oliphint sold 4,999 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.28, for a total value of $91,381.72. Following the sale, the executive vice president directly owned 605,272 shares of the company's stock, valued at approximately $11,064,372.16. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Walter sold 673,425 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the completion of the sale, the chief executive officer directly owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,130,066 shares of company stock valued at $58,837,655 over the last 90 days. Company insiders own 6.44% of the company's stock.

Institutional Trading of Permian Resources

Several institutional investors have recently bought and sold shares of PR. Farther Finance Advisors LLC grew its holdings in Permian Resources by 114.1% in the third quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company's stock valued at $25,000 after purchasing an additional 1,047 shares during the period. SHP Wealth Management acquired a new stake in Permian Resources in the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC acquired a new stake in Permian Resources in the fourth quarter valued at approximately $39,000. State of Wyoming grew its holdings in Permian Resources by 126.8% in the fourth quarter. State of Wyoming now owns 2,933 shares of the company's stock valued at $41,000 after purchasing an additional 1,640 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Permian Resources by 340.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company's stock valued at $57,000 after purchasing an additional 3,224 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Company Profile

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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