PR received a price target upgrade from RBC Capital due to strong performance in Q1

From Yahoo Finance: 2025-05-17 08:44:00

Permian Resources Corporation (PR) received a price target upgrade from RBC Capital due to its operations in the Permian Basin. RBC Capital raised PR’s target price from $16 to $17 and maintained an Outperform rating. PR recently expanded its footprint in the northern Delaware Basin through a $608 million asset acquisition from Apache parent APA Corp. In Q1 2025, PR reported strong results, beating profit, revenue, and output expectations with the highest free cash flow per share in its history at $0.54. Around 25% of PR’s 2025 oil production is hedged at a price just above $73 per barrel. Despite PR’s potential, some AI stocks are seen to offer higher returns with limited downside risk.



Read more at Yahoo Finance: Permian Resources Corporation (PR) Just Got Upgraded by RBC Capital