Permian Resources (PR) Receives a Rating Update from a Top Analyst

Truist Financial analyst Neal Dingmann maintained a Buy rating on Permian Resources (PR – Research Report) on May 10 and set a price target of $24.00. The company’s shares closed last Friday at $16.57.

Dingmann covers the Energy sector, focusing on stocks such as APA, Civitas Resources, and Devon Energy. According to TipRanks, Dingmann has an average return of 14.1% and a 72.60% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Permian Resources with a $19.93 average price target, which is a 20.28% upside from current levels. In a report released on May 8, Benchmark Co. also maintained a Buy rating on the stock with a $17.00 price target.

PR market cap is currently $12.76B and has a P/E ratio of 15.08.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PR in relation to earlier this year. Most recently, in March 2024, John Charles Bell, the EVP & GC of PR sold 500,000.00 shares for a total of $7,855,000.00.

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Permian Resources (PR) Company Description:

Silver Run Acquisition Corporation operates as a special purpose acquisition company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Silver Run Acquisition focuses on acquiring a target business in the energy industry.