UBS Sticks to Their Buy Rating for Permian Resources (PR)

In a report released on March 19, Josh Silverstein from UBS maintained a Buy rating on Permian Resources, with a price target of $25.00. The company’s shares closed last Friday at $19.97.

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Silverstein covers the Energy sector, focusing on stocks such as Ovintiv, Devon Energy, and APA. According to TipRanks, Silverstein has an average return of 12.2% and a 65.67% success rate on recommended stocks.

Currently, the analyst consensus on Permian Resources is a Strong Buy with an average price target of $21.50, implying a 7.66% upside from current levels. In a report released today, TipRanks – OpenAI also reiterated a Buy rating on the stock with a $23.00 price target.

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 36 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, William Quinn, a Director at PR sold 512,429.00 shares for a total of $10,038,484.11.