Permian Resources (PR) Gets a Buy from Morgan Stanley

In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Permian Resources, with a price target of $19.00.

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McDermott covers the Energy sector, focusing on stocks such as Devon Energy, Chevron, and Exxon Mobil. According to TipRanks, McDermott has an average return of 12.3% and a 60.08% success rate on recommended stocks.

Permian Resources has an analyst consensus of Strong Buy, with a price target consensus of $18.40.

Based on Permian Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly 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 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. Last month, Shannon Robert Regan, the EVP, Chief Accounting Officer of PR sold 176,659.00 shares for a total of $2,416,995.19.