Permian Resources (NASDAQ:PR) PT Raised to $20.00 at Mizuho

Permian Resources (NASDAQ:PR - Free Report) had its target price upped by Mizuho from $18.00 to $20.00 in a report issued on Monday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler raised their target price on Permian Resources from $17.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Benchmark raised their target price on Permian Resources from $16.00 to $17.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Raymond James began coverage on Permian Resources in a report on Tuesday, April 9th. They set a strong-buy rating and a $24.00 price target on the stock. Citigroup raised their price target on Permian Resources from $17.00 to $19.00 and gave the company a buy rating in a report on Friday, March 1st. Finally, Stifel Nicolaus raised their price target on Permian Resources from $18.00 to $20.00 and gave the company a buy rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Permian Resources currently has a consensus rating of Moderate Buy and a consensus target price of $18.77.

Permian Resources Stock Performance

Shares of PR stock traded down $0.03 on Monday, reaching $17.70. The stock had a trading volume of 8,023,295 shares, compared to its average volume of 9,607,727. The stock has a market cap of $13.66 billion, a P/E ratio of 15.26 and a beta of 4.35. Permian Resources has a 1 year low of $8.94 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50 day simple moving average of $15.96 and a 200 day simple moving average of $14.43.

Permian Resources (NASDAQ:PR - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Equities research analysts expect that Permian Resources will post 1.69 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.13%. Permian Resources's payout ratio is 17.24%.

Insider Activity

In related news, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Quinn sold 18,076,849 shares of Permian Resources stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $15.71, for a total value of $283,987,297.79. Following the completion of the transaction, the director now owns 71,056,620 shares of the company's stock, valued at approximately $1,116,299,500.20. 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 over the last 90 days. Corporate insiders own 23.14% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in shares of Permian Resources during the first quarter valued at approximately $32,000. Parallel Advisors LLC raised its stake in shares of Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock valued at $30,000 after acquiring an additional 1,178 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Permian Resources during the fourth quarter valued at approximately $33,000. Quarry LP bought a new stake in shares of Permian Resources during the first quarter valued at approximately $33,000. Finally, GAMMA Investing LLC bought a new stake in shares of Permian Resources during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

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.