Top 10 Oil & Gas E&P Stocks Outperforming Despite Sinking Oil Prices

2. Permian Resources Corporation (NYSE:PR)

Permian Resources Corporation operates as an independent natural gas and oil company. It develops crude oil and associated liquids-rich natural gas reserves. The company’s properties include acreage blocks in Lea County in New Mexico, and Reeves County in West Texas. The company’s stock is up 7.82% in the last week of trading.

With the net income margin of nearly 20% and a gross margin of 75%, the company stands out in the sector. In the recent quarter’s earnings, it boasted reduced per-well costs resulting from enhanced efficiencies. The stock beats the sector with an attractive dividend yield of over 8%. The potential upside, along with an attractive dividend yield, makes it a compelling investment opportunity for future gains.

According to 25 different analyst ratings, Permian Resources has a highest target price of $23, which means the price could more than double from the current levels if the bull scenario holds true. The stock is currently trading at $11.86, which is 18% below the lowest Wall Street price target of $14. The stock has already taken an upward trajectory, boosting investors’ sentiment in analysts’ estimates. In the past five trading sessions, the share price surged over 8%.