Raymond James Rates Permian Resources (PR) buy, $26 Price Target

Raymond James reiterated its buy rating on Permian Resources Corporation (NYSE:PR) on June 17, 2026. The firm set a price target of $26 for the oil and gas company. This comes as Permian Resources' shares traded at $18.67.

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 worth about $1.52 billion. Vanguard Portfolio Management LLC newly acquired 39.7 million shares, valued at approximately $847 million. Barrow Hanley Mewhinney & Strauss LLC boosted its stake by 3.7 million shares, reaching 34.6 million shares worth $737 million. Price T Rowe Associates Inc /MD/ added 4.1 million shares, bringing its total to 33.2 million shares, valued at $708 million. Dimensional Fund Advisors LP slightly reduced its position by about 317,100 shares, holding 31.3 million shares worth $668 million.

Permian Resources Corporation Stock Down 15.7%

Shares of NYSE:PR traded near $18.67. Permian Resources has a market capitalization of approximately $15.6 billion and a P/E ratio of 21.22. The stock's 52-week range is between $11.92 and $22.68, with a 50-day moving average of $20.29 and a 200-day moving average of $16.46. The company has a current ratio of 0.66 and a quick ratio of 0.61, with a debt-to-equity ratio of 32.70.

Recent Earnings

Permian Resources reported revenue of about $5.08 billion, with a slight growth of 0.9%. The company has an EPS of $0.88 and a net margin of 12.8%. Its return on equity stands at 6.86%. The next earnings report is expected on August 5, 2026.

Dividend

Permian Resources offers an annual dividend rate of $0.62, yielding 3.32%. The dividend payout ratio is 68.54%.

Insider Buying and Selling at Permian Resources Corporation

Several insiders made notable transactions in May 2026. On May 21, EVP and CFO Guy Oliphint sold 62,769 shares at an average price of $20.44. On May 19, insiders Aron Marquez, Steven Gray, Robert Tichio, Maire Baldwin, and Jeffrey Tepper collectively purchased shares, though the transaction values were not disclosed.

Analysts Set New Price Targets

On June 17, 2026, Raymond James maintained its buy rating for Permian Resources with a $26 price target. Mizuho also maintained a buy rating with a $27 target on May 27, 2026. Scotiabank and Truist Securities both reiterated their buy ratings, setting price targets at $25 in April 2026. Wells Fargo maintained a buy rating with a $27 target, while Roth Capital downgraded its rating to hold with a $22 target. According to 19 analysts, the consensus recommendation is a strong buy, with an average target price of $25.79.

About Permian Resources Corporation

Permian Resources Corporation is an independent oil and natural gas company based in Midland, Texas. It focuses on developing crude oil and natural gas reserves in the United States, primarily in the Delaware Basin, a part of the larger Permian Basin. The company, led by CEO William M. Hickey III, employs about 515 people and was formerly known as Centennial Resource Development, Inc.

Bottom Line

Raymond James' reiteration of a buy rating keeps Permian Resources in the spotlight for investors. With a strong market position and ongoing institutional interest, the company remains a focus in the energy sector. As always, note that analyst ratings and 13F filings are backward-looking and may not reflect current market conditions.