Morgan Stanley Sticks to Its Buy Rating for Permian Resources (PR)

Morgan Stanley analyst Devin McDermott maintained a Buy rating on Permian Resources today and set a price target of $20.42.

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According to TipRanks, McDermott is a 5-star analyst with an average return of 11.2% and a 59.27% success rate. McDermott covers the Energy sector, focusing on stocks such as Expand Energy, APA, and Devon Energy.

In addition to Morgan Stanley, Permian Resources also received a Buy from Mizuho Securities’s William Janela in a report issued on April 15. However, on April 8, Roth MKM downgraded Permian Resources (NYSE: PR) to a Hold.

Based on Permian Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.17 billion and a net profit of $339.51 million. In comparison, last year the company earned a revenue of $1.3 billion and had a net profit of $216.65 million

Based on the recent corporate insider activity of 36 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, Aron Marquez, a Director at PR sold 13,000.00 shares for a total of $254,720.00.