Roth Capital Upgrades Permian Resources to 'Buy', Sets $23 Target
Roth Capital has raised its rating on Permian Resources to 'buy' with a new price target of $23, a 22.99% upside from the current price.
Key Points
- Roth Capital upgraded Permian Resources to a 'buy' rating with a new price target of $23 on June 22, 2026.
- Roth Capital's $23 price target implies 22.99% upside from Permian Resources Corporation's ($PR) current $18.70 share price.
- Shares of Permian Resources traded at $18.43 on Monday, with a market cap of $15.4 billion and a P/E ratio of 20.7.
- Several analysts have maintained a 'buy' rating, with the consensus target price at $25.63 among 19 analysts.
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Roth Capital has upgraded its rating on Permian Resources Corporation (NYSE:PR) to 'buy' and set a new price target of $23. This change was made by analyst Leo Mariani on June 22, 2026. The previous target was not specified.
Roth Capital vs. the S&P 500
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Other Institutional Activity in Permian Resources
BlackRock, Inc. increased its holdings in Permian Resources by 4.6 million shares, ending with 71.1 million shares valued at about $1.52 billion. Vanguard Portfolio Management LLC opened a new position with 39.7 million shares worth approximately $846.96 million. Barrow Hanley Mewhinney & Strauss LLC also increased its stake by 3.7 million shares, reaching a total of 34.6 million shares valued at about $737.1 million. Vanguard Capital Management LLC initiated a new position with 34.1 million shares, valued at approximately $727.4 million. Meanwhile, Price T Rowe Associates Inc /MD/ added 4.1 million shares, bringing its total to 33.2 million shares worth around $708.2 million.
Permian Resources Corporation Stock Down 17.6%
Shares of Permian Resources (NYSE:PR) traded near $18.43 on Monday. The company has a market capitalization of approximately $15.4 billion and a P/E ratio of 20.7. The stock has experienced a 52-week low of $11.92 and a high of $22.68, with a 50-day moving average of $20.19 and a 200-day moving average of $16.50. The company's current ratio is 0.66, and its debt-to-equity ratio stands at 32.7.
$PR price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Permian Resources reported revenue of $5.08 billion with a slight growth of 0.9%. The company's earnings per share (EPS) is $0.89, with a net margin of 12.8% and a return on equity (ROE) of 6.9%. The next earnings report is scheduled for August 5, 2026.
Dividend
Permian Resources offers an annual dividend rate of $0.62, yielding 3.36%, with a payout ratio of 68.5%.
Insider Buying and Selling at Permian Resources Corporation
On May 21, 2026, Guy Oliphint, EVP and CFO, sold 62,769 shares at an average price of $20.44. On May 19, several insiders, including Aron Marquez and Steven Gray, bought shares without a specified price, indicating potential confidence in the company's future.
Analysts Set New Price Targets
On June 22, 2026, Roth Capital upgraded Permian Resources to a 'buy' rating with a $23 price target. Raymond James maintained its 'buy' rating with a $26 target on June 17, 2026. Mizuho, Scotiabank, and Wells Fargo have also maintained 'buy' ratings with targets of $27, $25, and $27 respectively. The consensus among 19 analysts is a strong buy with a mean target price of $25.63.
About Permian Resources Corporation
Permian Resources Corporation is an independent oil and natural gas company based in Midland, Texas, focusing on the Delaware Basin. Led by CEO William M. Hickey III, the company develops crude oil and natural gas reserves primarily in West Texas and New Mexico. With a workforce of 515 employees, it was formerly known as Centennial Resource Development, Inc. before rebranding in September 2022.
Bottom Line
Roth Capital's upgrade to 'buy' with a $23 target reflects optimism about Permian Resources' future prospects. Investors often track such ratings for insights into a company's potential performance. Remember, these analyst ratings are backward-looking and reflect the analysts' views at the time of the report.
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