14 Best Energy Stocks to Buy According to Wall Street Analysts

12. Permian Resources Corporation (NYSE:PR

Upside Potential as of March 22: 12.19%

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company focused on the development of crude oil and associated liquids-rich natural gas reserves in the United States.

Permian Resources Corporation (NYSE:PR) received a significant boost on March 17 when the company announced that it is now rated investment grade by both S&P Global Ratings and Fitch Ratings. The announcement comes after S&P raised its issuer credit rating on Permian Resources Corporation to ‘BBB-‘ from ‘BB+’ on March 17, with the upgrade driven by the company’s increased scale and improved operating efficiency in the Permian basin.

The rating agency acknowledged how Permian Resources Corporation (NYSE:PR) has expanded its footprint in the Permian basin through numerous acquisitions over the last few years, and projects its production to average 400,000-430,000 barrels of oil equivalent per day in FY 2026. Moreover, S&P expects the company to continue this momentum and deliver a further organic production growth of 5%-10% also in 2027.

The announcement comes after PR’s initial investment grade credit rating from Fitch, which upgraded the energy operator to BBB- in July last year.

James Walter, Co-CEO of Permian Resources Corporation (NYSE:PR), stated:

“We appreciate Fitch and S&P’s acknowledgment of the strength of our business and our balance sheet. Over the past ten years, we have run our business with an investment grade mindset, pairing high-quality assets with a fortress balance sheet to create outsized shareholder value through commodity cycles. Achieving investment grade status further enhances our ability to continue our track record of driving free cash flow and shareholder returns going forward.”