1 week Ago By ABMN Staff
Shares of Permian Resources Co. ( NYSE:PR – Get Free Report ) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company.
The average 12 month target price among analysts that have issued ratings on the stock in the last year is $18.87. Several analysts have commented on the stock.
UBS Group decreased their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th.
Truist Financial increased their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.
Mizuho reduced their price target on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, September 16th.
The Goldman Sachs Group started coverage on Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock.
Finally, Benchmark reduced their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.
Check Out Our Latest Report on Permian Resources Permian Resources Price Performance Permian Resources ( NYSE:PR – Get Free Report ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.
32 by $0.21. The company had revenue of $1.
22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a return on equity of 11.
15% and a net margin of 21.20%. The business’s quarterly revenue was up 60.
3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS.
As a group, sell-side analysts predict that Permian Resources will post 1.47 earnings per share for the current fiscal year. Permian Resources Increases Dividend The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd.
Shareholders of record on Thursday, November 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 14th.
This is an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.
60 dividend on an annualized basis and a yield of 4.04%. Permian Resources’s dividend payout ratio is 36.
36%. Institutional Investors Weigh In On Permian Resources A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Permian Resources by 6.
1% during the third quarter. State Street Corp now owns 22,027,153 shares of the company’s stock worth $299,790,000 after buying an additional 1,263,460 shares in the last quarter. Massachusetts Financial Services Co.
MA lifted its holdings in shares of Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co.
MA now owns 18,151,477 shares of the company’s stock worth $247,042,000 after acquiring an additional 1,543,854 shares during the period. Geode Capital Management LLC boosted its position in shares of Permian Resources by 17.6% during the 3rd quarter.
Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after acquiring an additional 1,638,618 shares in the last quarter. Renaissance Technologies LLC increased its stake in Permian Resources by 20.6% in the second quarter.
Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock valued at $147,107,000 after acquiring an additional 1,555,884 shares during the period. Finally, Jennison Associates LLC raised its position in Permian Resources by 14.5% in the third quarter.
Jennison Associates LLC now owns 7,647,329 shares of the company’s stock worth $104,080,000 after purchasing an additional 966,940 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.
Permian Resources Company Profile ( 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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