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

RBC Capital analyst Scott Hanold maintained a Buy rating on Permian Resources (PR – Research Report) yesterday and set a price target of $17.00. The company’s shares closed yesterday at $17.81.

According to TipRanks, Hanold is a top 25 analyst with an average return of 27.3% and a 69.68% success rate. Hanold covers the Energy sector, focusing on stocks such as California Resources Corp, Northern Oil And Gas, and Range Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Permian Resources with a $18.93 average price target, a 6.29% upside from current levels. In a report released on April 8, Raymond James also initiated coverage with a Buy rating on the stock with a $24.00 price target.

PR market cap is currently $13.02B and has a P/E ratio of 14.38.

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. Last month, EnCap Partners GP, LLC, a Major Shareholder at PR sold 9,000,000.00 shares for a total of $141,390,000.00.

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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.