Permian Resources (PR) Reiterated at Hold by StoneX - Production, Capex Expected to Track High-End of Guide

StoneX analyst Subash Chandra reiterated a Hold rating on Permian Resources Corp (NYSE: PR).

The analyst commented, "Raising our 3Q EBITDA estimate to $1.35B from $1.10B. Consensus is $1.3B. PR likely optimized shortcycle efforts to take advantage of high oil prices. We expect production and capex run-rate to track to the high-end of annual guidance. FCF was used to de-lever (retired another $325m of debt this quarter) and make acquisitions. Reiterate our Hold-rating on valuation as we believe shares reflect $90+ l-t oil."

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 $23.40 yesterday.

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