Piper Sandler Reaffirms Their Buy Rating on Permian Resources (PR)
In a report released today, Mark Lear from Piper Sandler maintained a Buy rating on Permian Resources, with a price target of $20.00.
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Lear covers the Energy sector, focusing on stocks such as Coterra Energy, Devon Energy, and APA. According to TipRanks, Lear has an average return of 3.0% and a 52.22% success rate on recommended stocks.
Permian Resources has an analyst consensus of Strong Buy, with a price target consensus of $18.33.
Based on Permian Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.32 billion and a net profit of $59.23 million. In comparison, last year the company earned a revenue of $1.22 billion and had a net profit of $386.38 million
Based on the recent corporate insider activity of 35 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. Earlier this month, Hickey William M III, the Co- CEO of PR sold 777,705.00 shares for a total of $10,634,216.95.
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