TD Cowen slashes price target on Permian Resources Corporation [PR] – find out why.

Permian Resources Corporation [NYSE: PR] loss -2.01% or -0.22 points to close at $10.74 with a heavy trading volume of 14429609 shares. The company report on March 10, 2023 that Pickering Energy Partners Acted as Co-Manager to Permian Resources.

Pickering Energy Partners (“PEP”) acted as a co-manager on the $302,500,000 secondary public offering for Permian Resources (NYSE: PR) which closed on March 10, 2023.

It opened the trading session at $10.93, the shares rose to $11.19 and dropped to $10.58, the range by which the price of stock traded the whole day. The daily chart for PR points out that the company has recorded 38.22% gains over the past six months. However, it is still -111.42% lower than its most recent low trading price.

If we look at the average trading volume of 7.21M shares, PR reached to a volume of 14429609 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Permian Resources Corporation [PR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PR shares is $13.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PR stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Permian Resources Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 01, 2023. The new note on the price target was released on March 01, 2023, representing the official price target for Permian Resources Corporation stock. Previously, the target price had yet another raise to $12, while ROTH MKM analysts kept a Buy rating on PR stock.

The Average True Range (ATR) for Permian Resources Corporation is set at 0.58, with the Price to Sales ratio for PR stock in the period of the last 12 months amounting to 2.87. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.10. Price to Free Cash Flow for PR in the course of the last twelve months was 4.48 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for PR stock

Permian Resources Corporation [PR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.44. With this latest performance, PR shares gained by 3.37% in over the last four-week period, additionally plugging by 38.22% over the last 6 months – not to mention a rise of 27.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PR stock in for the last two-week period is set at 49.88, with the RSI for the last a single of trading hit 45.84, and the three-weeks RSI is set at 51.51 for Permian Resources Corporation [PR]. The present Moving Average for the last 50 days of trading for this stock 10.24, while it was recorded at 11.26 for the last single week of trading, and 8.66 for the last 200 days.

Permian Resources Corporation [PR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Permian Resources Corporation [PR] shares currently have an operating margin of +51.15 and a Gross Margin at +58.64. Permian Resources Corporation’s Net Margin is presently recorded at +24.17.

Return on Equity for this stock inclined to 18.11, with Return on Assets sitting at 8.21.

Permian Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Permian Resources Corporation [PR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Permian Resources Corporation go to 6.00%.

An analysis of insider ownership at Permian Resources Corporation [PR]

There are presently around $2,985 million, or 88.40% of PR stock, in the hands of institutional investors. The top three institutional holders of PR stocks are: RIVERSTONE HOLDINGS LLC with ownership of 68,858,550, which is approximately 0% of the company’s market cap and around 3.20% of the total institutional ownership; VANGUARD GROUP INC, holding 18,961,413 shares of the stock with an approximate value of $203.65 million in PR stocks shares; and STATE STREET CORP, currently with $162.67 million in PR stock with ownership of nearly 1.994% of the company’s market capitalization.

Positions in Permian Resources Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 144 institutional holders increased their position in Permian Resources Corporation [NYSE:PR] by around 56,371,300 shares. Additionally, 117 investors decreased positions by around 39,878,563 shares, while 30 investors held positions by with 181,675,570 shares. The mentioned changes placed institutional holdings at 277,925,433 shares, according to the latest SEC report filing. PR stock had 64 new institutional investments in for a total of 22,568,136 shares, while 38 institutional investors sold positions of 10,021,098 shares during the same period.