Permian Resources Co. (NYSE:PR - Get Free Report) CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Permian Resources Price Performance
NYSE PR traded up $0.24 during trading on Friday, reaching $12.68. 9,332,894 shares of the company traded hands, compared to its average volume of 8,506,802. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock's 50 day moving average price is $14.58 and its two-hundred day moving average price is $14.39. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1-year low of $11.84 and a 1-year high of $18.28.
Permian Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Monday, March 17th. Permian Resources's payout ratio is 41.96%.
Analyst Upgrades and Downgrades
PR has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday. Morgan Stanley initiated coverage on Permian Resources in a research note on Friday, January 10th. They issued an "overweight" rating and a $19.00 price objective on the stock. Citigroup dropped their price objective on Permian Resources from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Truist Financial lifted their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Susquehanna upgraded Permian Resources from a "neutral" rating to a "positive" rating and boosted their price target for the company from $17.00 to $20.00 in a research note on Wednesday. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $19.31.
View Our Latest Stock Report on Permian Resources
Institutional Investors Weigh In On Permian Resources
A number of institutional investors have recently added to or reduced their stakes in PR. Ameriflex Group Inc. acquired a new position in shares of Permian Resources in the 4th quarter worth approximately $89,000. Forum Financial Management LP boosted its holdings in shares of Permian Resources by 39.1% in the 4th quarter. Forum Financial Management LP now owns 20,280 shares of the company's stock worth $292,000 after acquiring an additional 5,705 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Permian Resources in the 4th quarter worth approximately $2,782,000. Sunbelt Securities Inc. boosted its holdings in shares of Permian Resources by 435.5% in the 4th quarter. Sunbelt Securities Inc. now owns 17,092 shares of the company's stock worth $242,000 after acquiring an additional 13,900 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Permian Resources in the 4th quarter worth approximately $431,676,000. 91.84% of the stock is owned by institutional investors and hedge funds.
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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