Permian Resources Price Target Raised to $20 by Royal Bank Of Canada

The energy company's stock received an 'outperform' rating from the investment bank.

Mar. 2, 2026 at 2:23pm

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Royal Bank Of Canada has increased its price target on shares of Permian Resources (NYSE:PR) from $18.00 to $20.00 and maintained an 'outperform' rating on the stock. The new price target represents a potential upside of 6.95% from the stock's previous closing price.

Why it matters

Permian Resources is an independent exploration and production company focused on the Permian Basin, one of the most prolific oil and gas regions in the United States. The increased price target from a major investment bank suggests analysts see further upside potential in the company's stock.

The details

In its research note, Royal Bank Of Canada cited Permian Resources' strong operational performance and growth potential as reasons for the price target increase. The bank's analysts believe the company is well-positioned to capitalize on the favorable market conditions in the Permian Basin.

  • Royal Bank Of Canada issued the updated price target and rating on March 2, 2026.

The players

Permian Resources

An independent exploration and production company focused on the Permian Basin in West Texas and southeastern New Mexico.

Royal Bank Of Canada

A major Canadian investment bank that provides a range of financial services, including investment banking, wealth management, and capital markets activities.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

This price target increase from a respected investment bank underscores the market's confidence in Permian Resources' ability to navigate the current energy landscape and capitalize on the opportunities in the Permian Basin.