Scotiabank Rates Permian Resources (PR) Sector Outperform

Scotiabank has reiterated its positive outlook on Permian Resources with a new price target of $29, a 18.59% upside from the current price.

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

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Scotiabank rated Permian Resources Corporation ($PR) "Sector Outperform" with a $29 price target on October 15, 2026.

Since the rating, $PR is up 4.2% to date (from the $23.61 close on Oct 15, 2026).

PR Permian Resources Corporation

$24.59 +74.77% year to date

Daily close · Oct 16, 2026

Key Points

Scotiabank reiterated its Sector Outperform rating on Permian Resources, raising its price target to $29 from no prior target.
Scotiabank's $29 price target implies 18.59% upside from Permian Resources Corporation's ($PR) current $24.45 share price.
As of today, Permian Resources shares are trading at $24.45, reflecting a significant rise from its 52-week low of $11.92.
The stock has a P/E ratio of 14.2, and the average analyst consensus target price is $27.00.

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Permian Resources Corporation (NYSE: PR) received a positive nod from Scotiabank, which reiterated its Sector Outperform rating on October 15, 2026. The firm set a new price target of $29, indicating confidence in the company's future performance. Permian Resources shares recently traded at $24.45, showing a solid position within the market.

Analyst rating track record

Scotiabank vs. the S&P 500

YTD return +0.91% hypothetical

All-time return +0.91% S&P 500 +0.70%

vs. S&P 500 +0.21% ahead of the index

Hypothetical returns from Scotiabank's disclosed trades, not real profit or advice. How we model this.

What Changed in Scotiabank's Permian Resources Position

Scotiabank's analysts have raised their target price from no prior target to $29. This marks an optimistic outlook on Permian Resources, which focuses on oil and natural gas development in the United States, particularly in the Delaware Basin.

Other Institutional Activity in Permian Resources

Several institutional investors have recently adjusted their holdings in Permian Resources. Blackrock Inc. increased its stake by 7,980,467 shares, bringing its total to 79,044,298 shares valued at approximately $1.94 billion. Vanguard Portfolio Management LLC added 1,537,456 shares, ending with 41,264,996 shares worth around $1.02 billion. Price (T. Rowe) Associates Inc. grew its holdings by 5,002,826 shares to reach 38,222,120 shares valued at about $940.5 million. Vanguard Capital Management LLC added 1,630,798 shares, totaling 35,747,918 shares worth roughly $879.6 million. Lastly, State Street Corporation increased its position by 2,011,370 shares, bringing its total to 27,699,371 shares valued at about $681.5 million.

Permian Resources Corporation Stock Up 7.4%

Permian Resources shares are currently at $24.45, which positions the stock near its 52-week high of $24.64. This suggests increasing investor confidence, especially as the company has shown solid revenue growth of 55.1% compared to last year.

12-month forecast

$PR price target

Permian Resources Corporation daily closes and this analyst's $29 target. Not advice.

Recent Earnings

In its latest earnings report, Permian Resources posted revenue of approximately $5.74 billion, with a net margin of 21.5%. The next earnings report is scheduled for November 4, 2026, which will provide further insights into the company's financial health.

Dividend

Permian Resources pays an annual dividend of $0.63, yielding about 2.77%. This reflects a payout ratio of 40%, indicating a sustainable approach to returning value to shareholders.

Insider Buying and Selling at Permian Resources Corporation

Recent insider activity showed several executives selling shares. John Charles Bell, General Counsel, sold 5,492 shares at $23.75 each on September 3, 2026, totaling $130,456. CFO Guy M. Oliphint sold 5,103 shares for $121,210 on the same day. Officer Robert Regan Shannon sold 5,104 shares, also at $23.75, amounting to $121,228. Earlier, Oliphint sold 62,769 shares at $20.44 each on May 21, 2026, realizing $1,282,998.

Analysts Set New Price Targets

On October 15, 2026, Morgan Stanley maintained its Overweight rating on Permian Resources, raising its price target from $25 to $27. Wells Fargo also maintained its Overweight rating, increasing its target from $27 to $28 on October 14, 2026. Citigroup and Truist Securities both kept a Buy rating, raising their targets to $28 from $24 on October 12, 2026. The consensus among analysts gives a mean target price of $27.00 with a strong buy rating based on 21 opinions.

About Permian Resources Corporation

Permian Resources Corporation is an independent oil and natural gas company that focuses on developing crude oil and natural gas reserves in the United States. It mainly operates in the Delaware Basin, with properties in Reeves County, Texas, and Lea County, New Mexico. The firm was previously known as Centennial Resource Development, Inc.

Bottom Line

Investors should keep an eye on Permian Resources as it approaches its next earnings date, set for November 4, 2026. Scotiabank's recent price target increase reflects a bullish view of the company's prospects. Remember, the 13F filing reflects past holdings and may not represent current positions.