Aron Marquez Sells 5,250 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) Director Aron Marquez sold 5,250 shares of Permian Resources stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $19.57, for a total transaction of $102,742.50. Following the completion of the transaction, the director owned 79,968 shares in the company, valued at $1,564,973.76. This trade represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Aron Marquez also recently made the following trade(s):

• On Wednesday, March 18th, Aron Marquez sold 7,750 shares of Permian Resources stock. The stock was sold at an average price of $19.62, for a total transaction of $152,055.00.

Permian Resources Stock Up 0.6%

PR stock opened at $20.08 on Friday. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 4.00 and a beta of 0.66. The company has a 50-day moving average of $17.08 and a two-hundred day moving average of $14.77. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $20.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.64 annualized dividend and a yield of 3.2%. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio (DPR) is presently 51.20%.

Institutional Trading of Permian Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Permian Resources by 4.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after purchasing an additional 607 shares in the last quarter. Waterloo Capital L.P. boosted its stake in Permian Resources by 3.1% during the fourth quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after buying an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Permian Resources by 5.4% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after buying an additional 706 shares during the period. Curated Wealth Partners LLC increased its holdings in Permian Resources by 1.1% in the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after buying an additional 747 shares during the period. Finally, Chilton Capital Management LLC raised its stake in shares of Permian Resources by 3.5% in the 3rd quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after buying an additional 800 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PR has been the subject of several research reports. The Goldman Sachs Group increased their price objective on Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Zacks Research raised shares of Permian Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. UBS Group upped their target price on shares of Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Wells Fargo & Company raised their price target on shares of Permian Resources from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Finally, TD Cowen boosted their price objective on shares of Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.85.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.