Permian Resources (NYSE:PR - Get Free Report) was upgraded by research analysts at TD Cowen to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.
PR has been the topic of several other reports. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Raymond James Financial reiterated a "strong-buy" rating and issued a $23.00 price objective (up from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. Bank of America lifted their target price on Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley cut their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Susquehanna decreased their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.33.
Get Our Latest Stock Report on Permian Resources
Permian Resources Price Performance
Permian Resources stock traded down $0.01 on Monday, reaching $14.18. The company's stock had a trading volume of 6,989,920 shares, compared to its average volume of 9,750,695. The business's fifty day moving average price is $13.60 and its 200 day moving average price is $13.62. 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 $11.39 billion, a price-to-earnings ratio of 8.75 and a beta of 1.25. Permian Resources has a twelve month low of $10.01 and a twelve month high of $16.95.
Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company earned $0.25 EPS. The firm's quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts expect that Permian Resources will post 1.45 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PR. Allworth Financial LP boosted its position in Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company's stock worth $29,000 after acquiring an additional 1,635 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Permian Resources in the first quarter valued at approximately $30,000. Rakuten Securities Inc. increased its position in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after purchasing an additional 2,305 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of Permian Resources during the 1st quarter worth approximately $36,000. Finally, RE Dickinson Investment Advisors LLC acquired a new stake in shares of Permian Resources in the 4th quarter valued at approximately $41,000. 91.84% of the stock is owned by institutional investors and hedge funds.
About Permian Resources
(
Get Free Report)
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.
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