Permian Resources Co. (NYSE:PR - Get Free Report) EVP John Charles Bell sold 2,804 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares in the company, valued at approximately $1,044,294.99. This represents a 3.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Permian Resources Trading Up 1.9 %
Shares of PR traded up $0.24 during trading hours on Friday, reaching $12.68. The stock had a trading volume of 9,332,894 shares, compared to its average volume of 8,506,802. 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 Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The firm has a 50-day moving average of $14.58 and a 200 day moving average of $14.39. The company has a market cap of $10.18 billion, a P/E ratio of 7.68, a P/E/G ratio of 4.05 and a beta of 4.30.
Permian Resources Dividend Announcement
The business also recently announced 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. 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 presently 41.96%.
Hedge Funds Weigh In On Permian Resources
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC acquired a new position in Permian Resources in the 4th quarter worth $632,000. Wright Investors Service Inc. acquired a new position in shares of Permian Resources during the 4th quarter worth about $498,000. Point72 Asset Management L.P. boosted its stake in shares of Permian Resources by 58.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock worth $74,811,000 after buying an additional 2,023,742 shares during the last quarter. South Street Advisors LLC acquired a new position in shares of Permian Resources during the 3rd quarter worth about $7,142,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Permian Resources during the 3rd quarter worth about $556,000. 91.84% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have commented on the stock. Citigroup dropped 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 report on Tuesday, March 4th. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday. Susquehanna upgraded shares of Permian Resources from a "neutral" rating to a "positive" rating and upped their target price for the company from $17.00 to $20.00 in a research report on Wednesday. Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an "overweight" rating and a $19.00 target price for the company. Finally, Truist Financial upped their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $19.31.
Read Our Latest Analysis on PR
Permian Resources Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Permian Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Resources wasn't on the list.
While Permian Resources currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
