Mar. 7 at 7:37 AM
$PR Oil is now above
$90 but Permian Resources is still around
$19, so the stock hasn’t really caught up yet.
The bigger catalyst may actually be Permian consolidation. ConocoPhillips is reportedly exploring a sale of Delaware Basin acreage that would fit perfectly with PR’s footprint. If PR acquires assets like that, production and reserves could jump, which could push the stock into the
$23–
$26 range.
The other scenario is PR itself being acquired. Takeover premiums in the sector often imply
$25–
$30.
Yet the stock is still sitting around
$19 with oil over
$90.