Wells Fargo analyst Roger Read maintains $Permian Resources (PR.US)$ with a buy rating, and adjusts the target price from $17 to $21.
According to TipRanks data, the analyst has a success rate of 54.2% and a total average return of 7.4% 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 perform better than peers due to several key fundamental aspects, including the unique investment portfolio it holds. It is considered one of the select 'high quality' companies with a pure focus on the Permian Basin, benefiting from a strong inventory quality relative to its peers, primarily because of its concentrated acreage in the prime-quality resource area of the Delaware Basin.
The exploration and production sector's estimates have been modified to align with revised commodity price projections and investment perspectives. The enduring expectations for Brent and Henry Hub prices are positioned at $80 and $3.50, respectively. Should operational efficiency improvements continue and service costs decrease further, it is anticipated that the sector could maintain higher capital efficiency up to the year 2025, which may counterbalance the effects of resource maturity.
Note:
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