Permian Resources Co. (NYSE:PR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Permian Resources Co. (NYSE:PR) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.13.

Several analysts have weighed in on PR shares. Morgan Stanley started coverage on Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler increased their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th.

Permian Resources Stock Up 0.2 %

Permian Resources stock opened at $14.09 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. Permian Resources has a fifty-two week low of $12.62 and a fifty-two week high of $18.28. The stock’s fifty day moving average is $14.70 and its two-hundred day moving average is $14.47.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.26%. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

Insider Buying and Selling

In other news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Permian Resources

A number of large investors have recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Permian Resources in the 4th quarter worth about $89,000. Forum Financial Management LP raised its holdings in shares of Permian Resources by 39.1% in the 4th quarter. Forum Financial Management LP now owns 20,280 shares of the company’s stock worth $292,000 after purchasing an additional 5,705 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Permian Resources in the 4th quarter worth about $2,782,000. Sunbelt Securities Inc. raised its holdings in shares of Permian Resources by 435.5% in the 4th quarter. Sunbelt Securities Inc. now owns 17,092 shares of the company’s stock worth $242,000 after purchasing an additional 13,900 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Permian Resources in the 4th quarter worth about $431,676,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.