Traders Purchase High Volume of Call Options on Permian Resources (NYSE:PR)

Permian Resources Co. (NYSE:PR - Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 4,230 call options on the stock. This is an increase of approximately 56% compared to the average daily volume of 2,704 call options.

Wall Street Analyst Weigh In

A number of brokerages have commented on PR. Truist Financial upped their price target 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. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Morgan Stanley assumed coverage on Permian Resources in a report on Friday, January 10th. They set an "overweight" rating and a $19.00 price target on the stock. Finally, Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.31.

Insider Activity

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company's stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William J. Quinn purchased 500,000 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the acquisition, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. The trade was a 160.04 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 18,446 shares of company stock valued at $269,731. Insiders own 12.80% of the company's stock.

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Institutional Investors Weigh In On Permian Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Permian Resources by 1,435.0% in the 4th quarter. Wellington Management Group LLP now owns 650,900 shares of the company's stock worth $9,360,000 after acquiring an additional 608,496 shares in the last quarter. California State Teachers Retirement System grew its position in Permian Resources by 12.5% in the 4th quarter. California State Teachers Retirement System now owns 562,494 shares of the company's stock worth $8,089,000 after purchasing an additional 62,339 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Permian Resources in the 4th quarter worth about $89,000. Forum Financial Management LP increased its stake in Permian Resources by 39.1% in the 4th quarter. Forum Financial Management LP now owns 20,280 shares of the company's stock valued at $292,000 after buying an additional 5,705 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Permian Resources during the 4th quarter worth approximately $2,782,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Stock Up 0.8 %

NYSE PR traded up $0.11 during trading hours on Tuesday, hitting $14.26. The company's stock had a trading volume of 5,787,855 shares, compared to its average volume of 9,199,018. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company's 50-day simple moving average is $14.25 and its two-hundred day simple moving average is $14.35. The company has a market capitalization of $11.46 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources has a 52 week low of $11.84 and a 52 week high of $18.28.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.21%. Permian Resources's dividend payout ratio (DPR) is currently 41.96%.

About Permian Resources

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.