Truist Securities Reiterates Buy Rating on Permian Resources Corp (PR)

Truist Securities analyst Neal Dingmann reiterated a Buy rating and $18.00 price target on Permian Resources Corp (NYSE: PR).

The analyst commented: "We forecast operations continue to perform like clockwork though we hope investors/other analysts continue to have rational expectations. We estimate slightly sequentially higher 3Q24 and notably sequentially higher 4Q24 production largely driven by the Barilla Draw acquisition that closed late 3Q24 as Permian Resources continues to have the appropriate organic strategy of relatively flat production. We anticipate no change to the 50%+ FCF payout that should ensure continued balance sheet strength and solid investor payout, in our view. While the company is likely to remain acquisitive, knowing the payoff for a larger market cap, the disciplined deal focus will persist in our view. We reiterate our $18 price target suggesting >30% upside."

For an analyst ratings summary and ratings history on Permian Resources Corp click here. For more ratings news on Permian Resources Corp click here.

Shares of Permian Resources Corp closed at $14.11 yesterday.

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