Scotiabank Initiates Permian Resources Coverage With Outperform Rating, $21 Price Target

Overview

• On September 19, Scotiabank analyst Paul Cheng began coverage of Permian Resources (NYSE: PR) with an Outperform rating and a $21 price objective.
• The initiation cites positioning for greater free‑cash‑flow growth and a deeper inventory than peers, with shares viewed as attractively valued at current levels.
• Permian Resources lifted its 2025 guidance to 178.5 MBbls/d of oil and 385.0 MBoe/d of total production at the midpoint.
• The company executed roughly $600 million of acquisitions in Q2 2025 and says its strong balance sheet and liquidity support continued offensive moves during volatility.
• Artisan Partners disclosed a new position in Q1 2025, highlighting the company’s Delaware Basin focus, owner‑operator leadership, and commitment to returning capital.