Permian Resources Co. (NYSE:PR) Given Average Recommendation of "Moderate Buy" by Brokerages

Permian Resources Co. (NYSE:PR - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.56.

Several equities analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Williams Trading set a $19.00 target price on Permian Resources in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Bank of America upped their price target on Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd.

Institutional Investors Weigh In On Permian Resources

Several institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Permian Resources by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after acquiring an additional 662 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Permian Resources by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock worth $2,540,000 after acquiring an additional 700 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock worth $226,000 after purchasing an additional 805 shares during the period. Principal Securities Inc. lifted its holdings in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after purchasing an additional 852 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Permian Resources by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock worth $1,862,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Trading Up 1.3%

Shares of NYSE PR traded up $0.17 during mid-day trading on Monday, hitting $12.78. The stock had a trading volume of 8,375,435 shares, compared to its average volume of 9,670,759. 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 1 year low of $10.01 and a 1 year high of $16.95. The business has a 50 day moving average price of $12.41 and a two-hundred day moving average price of $13.78. The firm has a market cap of $10.26 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Permian Resources will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is presently 37.04%.

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.