Permian Resources slips after launching secondary offering

Riverstone Energy

15/09/2025 11:57

** Shares of oil and gas producer Permian Resources PR.N down 1.8% premarket to $13.45 after secondary offering launches

** Midland, Texas-based firm says ~46.1 mln Class A shares to be offloaded by Pearl Energy Investments and Riverstone Investment Group

** Concurrently with closing of offering, it intends to purchase 2 mln Class C shares held by the selling shareholders

** PR has ~800.4 mln total shares outstanding for $11 bln market cap

** Morgan Stanley, Citigroup and Goldman Sachs leading the offering

** PR shares on Fri fell 1.8% to $13.70, down 3.7% YTD

** Of 22 analysts covering the stock, recommendation breakdown is 21 "strong buy" or "buy" and 1 "hold"; median PT is $19, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))