Piper Sandler Lowers Permian Resources (PR) PT to $20 Despite Strong Q3 Production, Operational Improvement

Permian Resources Corporation (NYSE:PR) is one of the most undervalued NYSE stocks to buy right now. On November 18, Piper Sandler lowered the firm’s price target on Permian Resources to $20 from $21, while keeping an Overweight rating on the shares. This sentiment came as Piper Sandler stated that the overall E&P sector posted strong Q3 2o25 results. The firm noted that Permian Resources’ operations, efficiencies, and costs are moving in the right direction despite the overall oil market macro environment remaining underwhelming.

In Q3, Permian Resources’ oil production reached 187,000 barrels of oil per day, which represented a 6% sequential increase from Q2, contributing to a total production of 410,000 barrels of oil equivalent per day. For this reason, the company raised the midpoint of its full-year production guidance to 181,500 barrels of oil per day and 394,000 barrels of oil equivalent per day.

Permian Resources recorded $1.32 billion in total revenue for the said quarter, which rose by 8.74% as compared to the year-ago period. The company also earned $0.37 per share, surpassing expectations by  $0.08. Despite this strong performance, the company did acknowledge ongoing uncertainties in the macro environment, including the potential impact of suppressed commodity prices on future growth.

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company that develops crude oil and associated liquids-rich natural gas reserves in the US.

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Disclosure: None. This article is originally published at Insider Monkey.