Permian Resources (PR) Gets a Buy from Siebert Williams Shank & Co

Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Buy rating on Permian Resources on March 6 and set a price target of $23.00.

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Sorbara covers the Energy sector, focusing on stocks such as Coterra Energy, Devon Energy, and CNX Resources. According to TipRanks, Sorbara has an average return of 17.0% and a 66.80% success rate on recommended stocks.

In addition to Siebert Williams Shank & Co, Permian Resources also received a Buy from Citi’s Paul Diamond CFA in a report issued on March 6. However, on March 5, Benchmark Co. 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 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, Guy M Oliphint, the EVP & CFO of PR sold 11,411.00 shares for a total of $211,157.88.