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

Shares of Permian Resources Co. (NYSE:PR - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.53.

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Monday. Truist Financial boosted their price target on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Royal Bank of Canada lowered their price target on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Morgan Stanley reduced their target price on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th.

Permian Resources Stock Performance

Shares of NYSE:PR traded up $0.14 on Thursday, hitting $13.77. The company's stock had a trading volume of 1,989,657 shares, compared to its average volume of 9,886,119. Permian Resources has a 12 month low of $10.01 and a 12 month high of $16.95. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. The stock's 50-day moving average is $12.49 and its two-hundred day moving average is $13.90. 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 (NYSE:PR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. Permian Resources's revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that Permian Resources will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.15 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.36%. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Insider Buying and Selling at Permian Resources

In related news, EVP John Charles Bell sold 2,804 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares in the company, valued at approximately $1,044,294.99. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at $822,525.36. This trade represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 over the last ninety days. 6.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Permian Resources

Several institutional investors and hedge funds have recently bought and sold shares of PR. Principal Securities Inc. grew its holdings in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. Allworth Financial LP grew its stake in Permian Resources by 376.7% during the first quarter. Allworth Financial LP now owns 2,069 shares of the company's stock worth $29,000 after purchasing an additional 1,635 shares during the period. ORG Wealth Partners LLC bought a new stake in Permian Resources in the fourth quarter worth approximately $31,000. Smallwood Wealth Investment Management LLC acquired a new position in Permian Resources in the first quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after buying an additional 1,232 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

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.