RBC Capital Keeps Their Buy Rating on Permian Resources (PR)

RBC Capital analyst Scott Hanold maintained a Buy rating on Permian Resources yesterday and set a price target of $27.00. The company’s shares closed yesterday at $19.06.

TipRanks Welcomes a New ETF – NYSE:RANK

• TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE.
• RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.

According to TipRanks, Hanold is a 5-star analyst with an average return of 18.7% and a 64.73% success rate. Hanold covers the Energy sector, focusing on stocks such as California Resources Corp, Devon Energy, and EQT.

Currently, the analyst consensus on Permian Resources is a Strong Buy with an average price target of $24.85, a 30.38% upside from current levels. In a report released today, Wells Fargo also assigned a Buy rating to the stock with a $26.00 price target.

Based on Permian Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.39 billion and a net profit of $43.62 million. In comparison, last year the company earned a revenue of $1.38 billion and had a net profit of $329.3 million

Based on the recent corporate insider activity of 37 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.