Wells Fargo Raises Permian Resources (PR) Price Target to $28

Wells Fargo maintains its Overweight rating on Permian Resources and raises the price target to $28.00, a 14.50% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:22 PM EDT

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Wells Fargo raised its price target on Permian Resources Corporation ($PR) to $28 from $27 on October 14, 2026, and rates the stock "Overweight".

Since the rating, $PR is up 2.2% to date (from the $24.06 close on Oct 14, 2026).

PR Permian Resources Corporation

$24.59 +74.77% year to date

Daily close · Oct 16, 2026

Key Points

On October 14, 2026, Wells Fargo reiterated its Overweight rating on Permian Resources Corporation, increasing its price target from $27.00 to $28.00.
Wells Fargo's $28 price target implies 14.50% upside from Permian Resources Corporation's ($PR) current $24.45 share price.
As of October 16, 2026, Permian Resources traded recently around $24.45, which is about 12.7% below the new target price.
Permian Resources has a trailing twelve-month revenue of about $5.74 billion, with a net margin of 21.5% and a return on equity of 11.4%.

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Wells Fargo reiterated its Overweight rating on Permian Resources Corporation (NYSE: PR) on October 14, 2026, raising its price target from $27.00 to $28.00. This marks a positive adjustment in the firm's outlook for the company, signaling confidence in its future performance.

Other Institutional Activity in Permian Resources

Blackrock Inc. holds 79,044,298 shares of Permian Resources, having increased its stake by 7,980,467 shares, valued at about $1.94 billion. Vanguard Portfolio Management LLC has 41,264,996 shares, adding 1,537,456 shares worth approximately $1.01 billion. Price (T. Rowe) Associates Inc. also increased its holdings by 5,002,826 shares, totaling 38,222,120 shares valued at about $939.9 million. Additionally, Vanguard Capital Management LLC now has 35,747,918 shares after adding 1,630,798 shares, worth about $879 million. State Street Corporation holds 27,699,371 shares, increasing by 2,011,370 shares valued at around $681.1 million.

Permian Resources Corporation Stock Up 7.4%

Permian Resources shares were recently trading at $24.45 as of October 16, 2026, which is about 12.7% below Wells Fargo's new price target of $28.00. The stock has shown resilience in the energy sector, particularly in the oil and gas exploration and production industry.

12-month forecast

$PR price target

Permian Resources Corporation daily closes and this analyst's $28 target. Not advice.

Recent Earnings

Permian Resources reported trailing twelve-month revenue of approximately $5.74 billion, reflecting a year-over-year revenue growth of 55.1%. The company has a net margin of 21.5% and a return on equity of 11.4%. Its next earnings report is scheduled for November 4, 2026.

Insider Buying and Selling at Permian Resources Corporation

Recent insider transactions include Chief Financial Officer Guy M. Oliphint selling 62,769 shares at an average price of $20.44 on May 21, 2026, totaling about $1.28 million. On September 3, 2026, General Counsel John Charles Bell sold 5,492 shares at $23.75, valued at approximately $130,456. Oliphint also sold 5,103 shares at the same price on that date, amounting to about $121,210. Officer Robert Regan Shannon sold 5,104 shares at $23.75, totaling around $121,228.

Analysts Set New Price Targets

On October 14, 2026, Wells Fargo maintained its Overweight rating on Permian Resources with a new price target of $28.00, up from a prior target of $27.00. Earlier, on October 12, 2026, Citigroup maintained a Buy rating with a target of $28.00, while Truist Securities also maintained a Buy rating with the same target. Keybanc had previously set a target of $28.00, raising it from $25.00 on September 15, 2026.

About Permian Resources

Permian Resources Corporation is an independent oil and natural gas company based in Midland, Texas. The company focuses on developing crude oil and natural gas reserves in the United States, primarily in the Delaware Basin of the Permian Basin. Its assets include acreage in Reeves County, Texas, and Lea County, New Mexico.

Bottom Line

Investors should keep an eye on Permian Resources as it approaches its next earnings date on November 4, 2026. The recent analyst ratings suggest a positive outlook, with Wells Fargo's updated price target indicating confidence in the company's performance.