Benchmark Co. Sticks to Its Buy Rating for Permian Resources (PR)

Benchmark Co. analyst Subash Chandra maintained a Buy rating on Permian Resources today and set a price target of $14.00. The company’s shares closed yesterday at $12.61.

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According to TipRanks, Chandra is a 4-star analyst with an average return of 12.1% and a 48.00% success rate. Chandra covers the Energy sector, focusing on stocks such as APA, Matador Resources, and Antero Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Permian Resources with a $18.28 average price target, which is a 44.96% upside from current levels. In a report released yesterday, UBS also reiterated a Buy rating on the stock with a $17.00 price target.

Based on Permian Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.2 billion and a net profit of $207.14 million. In comparison, last year the company earned a revenue of $1.25 billion and had a net profit of $235.1 million

Based on the recent corporate insider activity of 21 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, John Charles Bell, the EVP & GC of PR sold 4,743.00 shares for a total of $67,398.03.