Several brokerages have updated their recommendations and price targets on shares of Permian Resources (NASDAQ: PR) in the last few weeks:
- 9/18/2024 – Permian Resources had its price target lowered by analysts at UBS Group AG from $19.00 to $18.00. They now have a “buy” rating on the stock.
- 9/16/2024 – Permian Resources had its price target lowered by analysts at Mizuho from $22.00 to $19.00. They now have an “outperform” rating on the stock.
- 9/12/2024 – Permian Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $20.00 to $17.00. They now have an “overweight” rating on the stock.
- 9/4/2024 – Permian Resources had its price target lowered by analysts at Susquehanna from $16.00 to $15.00. They now have a “neutral” rating on the stock.
- 8/15/2024 – Permian Resources had its price target lowered by analysts at Piper Sandler from $23.00 to $21.00. They now have an “overweight” rating on the stock.
- 8/12/2024 – Permian Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $20.00 price target on the stock.
- 8/9/2024 – Permian Resources had its price target lowered by analysts at Citigroup Inc. from $20.00 to $18.00. They now have a “buy” rating on the stock.
- 8/9/2024 – Permian Resources had its price target lowered by analysts at UBS Group AG from $21.00 to $19.00. They now have a “buy” rating on the stock.
- 8/8/2024 – Permian Resources had its price target lowered by analysts at Susquehanna from $18.00 to $16.00. They now have a “neutral” rating on the stock.
- 8/7/2024 – Permian Resources had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock.
- 7/30/2024 – Permian Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $20.00 price target on the stock.
- 7/30/2024 – Permian Resources had its price target raised by analysts at Truist Financial Co. from $21.00 to $22.00. They now have a “buy” rating on the stock.
Permian Resources Price Performance
NASDAQ PR traded up $0.02 on Tuesday, reaching $14.20. The company had a trading volume of 2,307,171 shares, compared to its average volume of 10,057,663. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average price is $14.46 and its 200 day moving average price is $15.83. The stock has a market capitalization of $10.93 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33.
Permian Resources (NASDAQ:PR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 99.9% compared to the same quarter last year. As a group, equities analysts predict that Permian Resources Co. will post 1.57 earnings per share for the current year.
Permian Resources Dividend Announcement
Insider Buying and Selling at Permian Resources
In other news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at $855,288.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.
Institutional Trading of Permian Resources
Institutional investors have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new position in Permian Resources during the 1st quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after purchasing an additional 1,178 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Permian Resources in the second quarter worth about $30,000. Rise Advisors LLC purchased a new stake in Permian Resources in the first quarter valued at approximately $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in Permian Resources in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 91.84% of the company’s stock.
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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