Morgan Stanley Sticks to Their Buy Rating for Permian Resources (PR)

In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Permian Resources, with a price target of $18.00. The company’s shares closed yesterday at $12.61.

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According to TipRanks, McDermott is a 5-star analyst with an average return of 10.2% and a 58.61% success rate. McDermott covers the Energy sector, focusing on stocks such as Civitas Resources, Chevron, and Comstock Resources.

Permian Resources has an analyst consensus of Strong Buy, with a price target consensus of $18.28, implying a 44.96% upside from current levels. In a report released today, Benchmark Co. also maintained a Buy rating on the stock with a $14.00 price target.

The company has a one-year high of $16.33 and a one-year low of $10.01. Currently, Permian Resources has an average volume of 11.91M.

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.