Permian Resources (NYSE:PR) Upgraded by Seaport Research Partners to “Strong-Buy” Rating

Seaport Research Partners upgraded shares of Permian Resources (NYSE:PR) to a strong-buy rating in a research report released on Wednesday, Marketbeat reports.

Several other research firms also recently commented on PR. Raymond James Financial restated a “strong-buy” rating and issued a $29.00 price target on shares of Permian Resources in a research note on Thursday, August 27th. Citigroup lowered their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Evercore started coverage on shares of Permian Resources in a report on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 price target on the stock. UBS Group lowered their price target on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday, July 17th. Finally, Truist Financial upped their target price on Permian Resources from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Six investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Permian Resources has an average rating of “Buy” and an average target price of $23.65.

Permian Resources Price Performance

NYSE PR opened at $23.72 on Wednesday. The firm’s 50 day moving average is $20.91 and its 200-day moving average is $20.16. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.87 billion, a PE ratio of 15.71 and a beta of 0.49. Permian Resources has a 12-month low of $11.92 and a 12-month high of $24.09.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%.The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. Equities research analysts anticipate that Permian Resources will post 2.24 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources’s dividend payout ratio is 42.38%.

Insider Activity at Permian Resources

In related news, EVP John Bell sold 5,492 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total value of $130,435.00. Following the sale, the executive vice president directly owned 1,561,680 shares of the company’s stock, valued at $37,089,900. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Guy M. Oliphint sold 5,103 shares of Permian Resources stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,196.25. Following the sale, the executive vice president directly owned 537,400 shares of the company’s stock, valued at approximately $12,763,250. This trade represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 15,699 shares of company stock valued at $372,851. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Permian Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Permian Resources during the second quarter valued at about $1,782,000. California State Teachers Retirement System raised its stake in Permian Resources by 1,885.1% in the second quarter. California State Teachers Retirement System now owns 16,229,501 shares of the company’s stock worth $298,785,000 after buying an additional 15,411,935 shares in the last quarter. Readystate Asset Management LP lifted its stake in shares of Permian Resources by 155.2% in the 2nd quarter. Readystate Asset Management LP now owns 496,281 shares of the company’s stock valued at $9,137,000 after purchasing an additional 301,791 shares during the period. Wedmont Private Capital boosted its holdings in shares of Permian Resources by 23.4% during the 2nd quarter. Wedmont Private Capital now owns 13,396 shares of the company’s stock valued at $257,000 after buying an additional 2,536 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in Permian Resources by 39.7% in the second quarter. HB Wealth Management LLC now owns 29,245 shares of the company’s stock worth $538,000 after purchasing an additional 8,304 shares during the period. Institutional investors own 91.84% of the company’s stock.

Trending Headlines about Permian Resources

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

• Positive Sentiment: Wells Fargo upgraded Permian Resources (PR) to “strong buy,” adding to an analyst backdrop that includes six Strong Buy and 12 Buy ratings. The company’s latest quarterly results also exceeded expectations, with earnings per share of $0.69 versus the $0.59 consensus and revenue of $1.86 billion versus the $1.66 billion estimate. Wells Fargo upgrades Permian Resources
• Positive Sentiment: Permian Resources announced a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a yield of approximately 2.7%. The payout reinforces the company’s shareholder-return appeal, although investors should note the September 16 ex-dividend date. Permian Resources dividend announcement
• Neutral Sentiment: EVPs John Bell, Robert Shannon and Guy Oliphint each sold roughly 5,100–5,500 shares at $23.75, collectively generating about $373,000. The filings state that the sales covered tax-withholding obligations tied to vested equity awards, reducing their significance as a bearish insider-confidence signal. Permian Resources executive stock sales
• Neutral Sentiment: PR’s consensus price target is $23.65, slightly below the reported $23.72 trading level, suggesting that much of the near-term analyst optimism may already be reflected in the stock. Its valuation remains supported by a 15.71 price-to-earnings ratio, 21.52% net margin and 55.1% year-over-year revenue growth.

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.