Permian Resources Co. (NASDAQ:PR) EVP Sells $67,156.53 in Stock

Permian Resources Co. (NASDAQ:PR - Get Free Report) EVP John Charles Bell sold 4,821 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Permian Resources Stock Down 0.7 %

NASDAQ:PR traded down $0.09 during mid-day trading on Thursday, hitting $13.48. The stock had a trading volume of 4,293,997 shares, compared to its average volume of 9,940,159. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The stock has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $15.96. The company has a market capitalization of $10.82 billion, a PE ratio of 12.25, a PEG ratio of 0.77 and a beta of 4.33.

Permian Resources (NASDAQ:PR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the company earned $0.27 earnings per share. The firm's revenue for the quarter was up 99.9% on a year-over-year basis. On average, equities research analysts anticipate that Permian Resources Co. will post 1.63 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.78%. Permian Resources's payout ratio is currently 21.82%.

Analysts Set New Price Targets

Several brokerages have weighed in on PR. Mizuho increased their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 8th. Piper Sandler reduced their price target on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. UBS Group reduced their price target on shares of Permian Resources from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Susquehanna reduced their price target on shares of Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets raised shares of Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.93.

Institutional Trading of Permian Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PR. New York State Common Retirement Fund purchased a new position in shares of Permian Resources during the fourth quarter worth approximately $1,550,000. Atria Wealth Solutions Inc. purchased a new position in shares of Permian Resources during the fourth quarter worth approximately $159,000. Truist Financial Corp grew its position in shares of Permian Resources by 9.4% during the fourth quarter. Truist Financial Corp now owns 12,653 shares of the company's stock worth $172,000 after acquiring an additional 1,086 shares during the last quarter. Fisher Asset Management LLC purchased a new position in shares of Permian Resources during the fourth quarter worth approximately $2,642,000. Finally, Swiss National Bank grew its position in shares of Permian Resources by 31.1% during the fourth quarter. Swiss National Bank now owns 724,348 shares of the company's stock worth $9,851,000 after acquiring an additional 171,648 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Company Profile

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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