Wells Fargo Raises Permian Resources Price Target

Analyst sees potential upside for the oil and gas company's stock.

Mar. 16, 2026 at 2:38pm

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Wells Fargo & Company analysts have raised their price target for Permian Resources (NYSE:PR) from $17.00 to $21.00 and maintained an "overweight" rating on the stock. The analysts cited the company's strong performance and growth potential in the Permian Basin as reasons for the increased price target.

Why it matters

Permian Resources is a major player in the Permian Basin, one of the most prolific oil and gas producing regions in the United States. The company's strong operational performance and growth outlook are seen as positive signs for investors, as the energy sector continues to navigate market volatility.

The details

In their research report, the Wells Fargo analysts noted that Permian Resources has demonstrated consistent production growth and efficient operations in the Permian Basin. The company's focus on optimizing its asset portfolio and leveraging advanced drilling and completion techniques have contributed to its success.

  • Wells Fargo issued the updated price target and rating on March 16, 2026.

The players

Permian Resources

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

Wells Fargo & Company

A diversified financial services company that provides banking, investment, and mortgage products and services.

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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

The increased price target from Wells Fargo reflects the analysts' confidence in Permian Resources' ability to navigate the challenges facing the energy industry and capitalize on the opportunities in the Permian Basin. This positive outlook could signal potential upside for the company's stock, which could be of interest to investors seeking exposure to the oil and gas sector.