Permian Resources Co. (NYSE:PR) CFO Sells $134,043.30 in Stock

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Permian Resources Stock Performance

NYSE:PR opened at $14.99 on Wednesday. The stock has a market capitalization of $12.04 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 0.88 and a beta of 4.32. Permian Resources Co. has a 1 year low of $12.59 and a 1 year high of $18.28. The firm has a 50 day moving average of $14.71 and a 200-day moving average of $14.66. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a dividend of $0.15 per share. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 4.00%. Permian Resources’s dividend payout ratio is 36.36%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group initiated coverage on Permian Resources in a research report on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective for the company. Benchmark reduced their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company lowered their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Truist Financial upped their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. 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. According to MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and an average target price of $18.87.

Institutional Investors Weigh In On Permian Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PR. Hexagon Capital Partners LLC lifted its position in shares of Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after purchasing an additional 1,998 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. raised its position in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares during the last quarter. Blue Trust Inc. lifted its holdings in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after buying an additional 2,629 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in Permian Resources in the 3rd quarter valued at $45,000. 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.