Permian Resources Corporation (NYSE:PR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Permian Resources Corporation (NYSE:PR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the sixteen research firms that are covering the firm, Marketbeat 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 issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.50.

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. Royal Bank Of Canada lifted their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Raymond James Financial restated a "strong-buy" rating and issued a $23.00 target price (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. Finally, Susquehanna lowered their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its position in shares of Permian Resources by 58.4% during the 1st quarter. Voya Investment Management LLC now owns 515,771 shares of the company's stock valued at $7,143,000 after acquiring an additional 190,105 shares in the last quarter. First Hawaiian Bank increased its stake in Permian Resources by 6.0% during the first quarter. First Hawaiian Bank now owns 102,172 shares of the company's stock valued at $1,415,000 after purchasing an additional 5,744 shares during the last quarter. Strs Ohio bought a new stake in Permian Resources during the first quarter valued at $7,414,000. Belpointe Asset Management LLC acquired a new stake in shares of Permian Resources during the first quarter worth $465,000. Finally, Focus Partners Wealth lifted its position in shares of Permian Resources by 1.2% in the 1st quarter. Focus Partners Wealth now owns 254,965 shares of the company's stock worth $3,531,000 after buying an additional 3,080 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Permian Resources Trading Down 0.7%

PR traded down $0.09 on Friday, reaching $13.65. 11,368,408 shares of the company's stock were exchanged, compared to its average volume of 9,722,523. Permian Resources has a twelve month low of $10.01 and a twelve month high of $16.95. The company's 50 day moving average is $13.24 and its 200-day moving average is $13.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 8.43 and a beta of 1.24.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the company posted $0.25 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts predict that Permian Resources will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is currently 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.