Piper Sandler Sticks to Its Buy Rating for 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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According to TipRanks, Lear is a 4-star analyst with an average return of 3.0% and a 52.22% success rate. Lear covers the Energy sector, focusing on stocks such as Coterra Energy, Devon Energy, and Occidental Petroleum.

In addition to Piper Sandler, Permian Resources also received a Buy from Wells Fargo’s Hanwen Chang in a report issued yesterday. However, on January 16, Bank of America Securities downgraded Permian Resources (NYSE: PR) to a Hold.

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, Shannon Robert Regan, the EVP, Chief Accounting Officer of PR sold 176,659.00 shares for a total of $2,416,995.19.