This Stock May Benefit from a Resurgent Venezuelan Oil Sector
Written by Emily J. Thompson, Senior Investment Analyst
Source: Barron's
State Control and Investor Concerns: State control of oil companies generally leads to negative outcomes for investors, as seen with Saudi Aramco and Brazil's Petrobras.
Performance Comparison: Shares of state-controlled oil companies have consistently underperformed compared to their privately-owned counterparts.
Government Influence: The more a publicly traded oil company resembles a government entity, the greater the concern for investors regarding its performance.
Long-term Trends: The trend of underperformance in state-controlled oil companies has persisted over several years, raising alarms for potential investors.
Analyst Views on PR
Wall Street analysts forecast PR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PR is 18.33 USD with a low forecast of 14.00 USD and a high forecast of 21.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
17 Buy
0 Hold
0 Sell
Strong Buy
Current: 14.610
Low
14.00
Averages
18.33
High
21.00
Current: 14.610
Low
14.00
Averages
18.33
High
21.00
About PR
Permian Resources Holdings Inc, formerly Permian Resources Corporation, is an independent oil and natural gas company. The Company is focused on the acquisition, optimization and development of oil and natural gas properties. The Company's assets and operations are concentrated in the core of the Delaware Basin. Its position consists of approximately 475,000 net acres in West Texas and Southeast New Mexico. The majority of its assets are concentrated within the Delaware Basin in Eddy and Lea Counties, New Mexico and Reeves and Ward Counties, Texas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
