Permian Resources Co. (NYSE:PR - Get Free Report) CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Permian Resources Stock Performance
Shares of PR traded up $0.24 during mid-day trading on Friday, hitting $12.68. 9,332,894 shares of the company's stock were exchanged, compared to its average volume of 8,506,802. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The stock's 50-day simple moving average is $14.58 and its 200-day simple moving average is $14.39. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.
Permian Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.73%. Permian Resources's dividend payout ratio (DPR) is 41.96%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in PR. State of Alaska Department of Revenue boosted its position in Permian Resources by 32.4% in the third quarter. State of Alaska Department of Revenue now owns 73,710 shares of the company's stock valued at $1,003,000 after buying an additional 18,025 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Permian Resources by 151.4% in the third quarter. Nisa Investment Advisors LLC now owns 17,179 shares of the company's stock valued at $234,000 after buying an additional 10,346 shares in the last quarter. New York State Teachers Retirement System boosted its position in Permian Resources by 42.8% in the third quarter. New York State Teachers Retirement System now owns 197,179 shares of the company's stock valued at $2,684,000 after buying an additional 59,099 shares in the last quarter. River Road Asset Management LLC boosted its position in Permian Resources by 0.9% in the third quarter. River Road Asset Management LLC now owns 5,002,382 shares of the company's stock valued at $68,082,000 after buying an additional 43,885 shares in the last quarter. Finally, Callahan Advisors LLC boosted its position in Permian Resources by 25.7% in the third quarter. Callahan Advisors LLC now owns 14,674 shares of the company's stock valued at $200,000 after buying an additional 3,000 shares in the last quarter. 91.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on PR. Susquehanna upgraded shares of Permian Resources from a "neutral" rating to a "positive" rating and raised their target price for the company from $17.00 to $20.00 in a research note on Wednesday. Citigroup cut their target price on shares of Permian Resources from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Truist Financial increased their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Morgan Stanley started coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an "overweight" rating and a $19.00 price target on the stock. Finally, Piper Sandler lowered their price target on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $19.31.
Get Our Latest Stock Analysis on PR
About Permian Resources
(
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Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.
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