Permian Resources (NYSE:PR) Reaches New 12-Month High Following Analyst Upgrade

Permian Resources Corporation (NYSE:PR)’s stock price reached a new 52-week high during trading on Tuesday after Truist Financial upgraded the stock to a strong-buy rating. The stock traded as high as $20.55 and last traded at $20.5970, with a volume of 1768973 shares traded. The stock had previously closed at $19.92.

Several other analysts have also recently issued reports on PR. UBS Group increased their price objective on Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Morgan Stanley cut their price target on Permian Resources from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Piper Sandler increased their price target on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Bank of America reiterated a “neutral” rating and issued a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $21.00 price objective on shares of Permian Resources in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.07.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 158,385 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.39, for a total transaction of $2,912,700.15. Following the completion of the sale, the executive vice president owned 1,567,172 shares in the company, valued at approximately $28,820,293.08. The trade was a 9.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William M. Hickey III sold 898,423 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the completion of the transaction, the chief executive officer directly owned 9,389,405 shares in the company, valued at $172,577,263.90. This trade represents a 8.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 5,340,522 shares of company stock worth $89,069,383. 6.44% of the stock is currently owned by company insiders.

More Permian Resources News

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Mizuho raised its price target on Permian Resources to $25 (from $23) and kept an Outperform rating, citing market dynamics tied to Middle East risk which supports higher upstream valuations. Mizuho Lifts PT
• Positive Sentiment: Truist initiated/updated coverage with a Buy / Strong-Buy stance and set a $24 target, adding another institutional endorsement that implies ~15% upside from current levels. Truist Initiates Coverage
• Positive Sentiment: Goldman Sachs and UBS have both maintained Buy/Strong-Buy views on PR, keeping institutional support intact and signaling confidence in Permian’s cash flow and dividend/return profile highlighted in energy sector coverage. Goldman Sachs Remains a Buy UBS Sticks to Buy
• Positive Sentiment: Short interest fell ~15% in March (to ~19.1M shares), reducing potential downside from short squeezes and signaling less bearish positioning into recent analyst actions. (Data reported 3/13 vs. 2/26)
• Neutral Sentiment: Despite analyst optimism, recent operational results are mixed: Permian beat EPS estimates in its last quarter but reported lower revenue year-over-year and missed top-line consensus — a reminder that cash-flow upside coexists with volume/revenue variability. (Company Q4 results)
• Neutral Sentiment: A recent market note highlighted Permian getting a bullish call even as oil slid on Iran de‑escalation hopes — analysts may be separating company-level fundamentals from short-term oil price moves. Bullish Call Amid Oil Slide
• Negative Sentiment: Near-term oil price weakness tied to geopolitical de‑escalation is a risk for Permian’s commodity-exposed revenues; sustained declines in oil would weigh on earnings and strip some upside implicit in fresh price targets. (Context from recent market moves)

Institutional Trading of Permian Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new position in Permian Resources during the 4th quarter worth approximately $774,000. Rockefeller Capital Management L.P. lifted its stake in Permian Resources by 6.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,063 shares of the company’s stock valued at $338,000 after buying an additional 1,498 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Permian Resources by 80.0% in the fourth quarter. Corient Private Wealth LLC now owns 80,764 shares of the company’s stock valued at $1,133,000 after buying an additional 35,905 shares during the last quarter. SHP Wealth Management acquired a new stake in shares of Permian Resources in the fourth quarter valued at approximately $27,000. Finally, Fearnley Asset Management AS acquired a new stake in shares of Permian Resources in the fourth quarter valued at approximately $7,175,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Trading Up 1.0%

The business’s 50-day moving average price is $17.45 and its 200-day moving average price is $14.90. The firm has a market capitalization of $17.47 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 3.72 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. Permian Resources’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. Permian Resources’s dividend payout ratio is currently 51.20%.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.