Goldman Sachs Remains a Buy on Permian Resources (PR)

Goldman Sachs analyst Neil Mehta reiterated a Buy rating on Permian Resources yesterday and set a price target of $23.00.

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According to TipRanks, Mehta is a 5-star analyst with an average return of 11.4% and a 61.80% success rate. Mehta covers the Energy sector, focusing on stocks such as Permian Resources, Cenovus Energy, and Ovintiv.

In addition to Goldman Sachs, Permian Resources also received a Buy from TipRanks – OpenAI’s OpenAI Oil and Gas Exploration and Production in a report issued today. However, on March 16, Bank of America Securities maintained a Hold rating on Permian Resources (NYSE: PR).

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.