Permian Resources (NYSE:PR) Price Target Cut to $19.00 by Analysts at Susquehanna

Permian Resources (NYSE:PR - Get Free Report) had its target price lowered by equities research analysts at Susquehanna from $20.00 to $19.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price objective indicates a potential upside of 54.98% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Royal Bank of Canada decreased their price objective on shares of Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. cut their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Piper Sandler decreased their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of "Moderate Buy" and an average price target of $18.67.

Permian Resources Price Performance

NYSE PR traded up $0.06 during midday trading on Tuesday, hitting $12.26. The company had a trading volume of 6,323,320 shares, compared to its average volume of 9,739,138. The firm has a 50-day moving average price of $12.79 and a 200-day moving average price of $14.03. The company has a market capitalization of $9.85 billion, a PE ratio of 7.43, a P/E/G ratio of 4.05 and a beta of 3.81. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources has a twelve month low of $10.01 and a twelve month high of $17.62.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares in the company, valued at approximately $1,825,233.33. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Permian Resources

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC raised its position in shares of Permian Resources by 35.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 47,403 shares of the company's stock worth $645,000 after acquiring an additional 12,471 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Permian Resources in the third quarter worth approximately $57,000. Franklin Resources Inc. lifted its stake in Permian Resources by 54.9% in the third quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company's stock valued at $19,351,000 after buying an additional 482,405 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Permian Resources by 21.6% during the 3rd quarter. Retirement Systems of Alabama now owns 770,883 shares of the company's stock worth $10,492,000 after buying an additional 136,971 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Permian Resources by 35.3% during the 3rd quarter. Principal Financial Group Inc. now owns 3,984,490 shares of the company's stock worth $54,235,000 after buying an additional 1,038,489 shares in the last quarter. 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.