Permian Resources Co. (NASDAQ:PR) Given Consensus Rating of “Moderate Buy” by Analysts

Permian Resources Co. (NASDAQ:PR) has earned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.00.

Several equities analysts have commented on the stock. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Wednesday, July 3rd. Wolfe Research initiated coverage on Permian Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group lowered their target price on Permian Resources from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Bank of America reaffirmed a “buy” rating and issued a $20.00 price target on shares of Permian Resources in a research report on Friday, June 14th. Finally, Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Wednesday, August 7th.

Institutional Trading of Permian Resources

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Permian Resources by 47.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,725,462 shares of the company’s stock valued at $23,466,000 after purchasing an additional 554,694 shares during the period. Mount Lucas Management LP acquired a new stake in Permian Resources during the 4th quarter worth approximately $746,000. DRW Securities LLC acquired a new stake in Permian Resources during the 4th quarter worth approximately $1,904,000. Franklin Resources Inc. increased its holdings in shares of Permian Resources by 74.2% in the fourth quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock valued at $4,783,000 after purchasing an additional 149,851 shares during the period. Finally, American International Group Inc. raised its stake in shares of Permian Resources by 10.4% during the first quarter. American International Group Inc. now owns 830,432 shares of the company’s stock worth $14,665,000 after purchasing an additional 78,146 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Performance

NASDAQ PR opened at $14.24 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $11.43 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.79 and a beta of 4.37. The stock has a 50-day moving average of $15.30 and a two-hundred day moving average of $15.98. Permian Resources has a 1-year low of $12.34 and a 1-year high of $18.28.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year. As a group, analysts anticipate that Permian Resources will post 1.63 EPS for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.69%. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

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.