Truist Financial analyst Neal Dingmann maintains $Permian Resources (PR.US)$ with a buy rating, and sets the target price at $18.
According to TipRanks data, the analyst has a success rate of 51.5% and a total average return of 5.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Permian Resources (PR.US)$'s main analysts recently are as follows:
Permian Resources is positioned to outperform its peers due to 'several fundamental elements' that provide scarcity value in its investment portfolio. It is considered one of the few 'high quality' pure-play companies focused on the Permian Basin, which ensures strong inventory quality compared to peers, especially with its acreage concentrated in the high-quality resource area of the Delaware Basin.
The exploration and production group estimates have been adjusted to align with updated commodity price projections and investment perspectives. Despite the adjustment of the estimates, the long-term oil and gas price expectations remain steady, with Brent at $80 and Henry Hub at $3.50. Should operational efficiency gains continue and service costs reduce further, it's anticipated that the exploration and production companies could maintain improved capital efficiency up until 2025. This might help to counterbalance the effects of resource maturity.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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