Permian Resources (NYSE:PR) EVP John Charles Bell Sells 5,492 Shares

Permian Resources Corporation (NYSE:PR) EVP John Bell sold 5,492 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total transaction of $130,435.00. Following the sale, the executive vice president directly owned 1,561,680 shares of the company’s stock, valued at approximately $37,089,900. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Permian Resources Price Performance

Shares of Permian Resources stock traded down $0.10 during trading on Thursday, reaching $23.72. 5,837,416 shares of the company’s stock were exchanged, compared to its average volume of 9,757,025. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.62 and a current ratio of 0.62. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $24.09. The company has a market cap of $19.87 billion, a P/E ratio of 15.71 and a beta of 0.49. The firm’s 50-day moving average price is $20.91 and its 200 day moving average price is $20.16.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 55.1% on a year-over-year basis. As a group, research analysts anticipate that Permian Resources Corporation will post 2.24 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources’s dividend payout ratio is presently 42.38%.

Wall Street Analyst Weigh In

PR has been the topic of a number of research reports. Wells Fargo & Company raised shares of Permian Resources to a “strong-buy” rating in a report on Wednesday. Seaport Research Partners began coverage on Permian Resources in a research report on Thursday. They issued a “buy” rating and a $29.00 price target on the stock. UBS Group reduced their price objective on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Citigroup decreased their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Mizuho raised Permian Resources to a “strong-buy” rating in a research report on Friday, July 31st. Six research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.65.

Hedge Funds Weigh In On Permian Resources

Several large investors have recently bought and sold shares of PR. SJS Investment Consulting Inc. raised its holdings in shares of Permian Resources by 1,862.5% in the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after purchasing an additional 1,341 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Permian Resources during the fourth quarter valued at approximately $27,000. Cedar Mountain Advisors LLC bought a new stake in Permian Resources during the first quarter worth $48,000. Los Angeles Capital Management LLC purchased a new position in Permian Resources in the fourth quarter worth $39,000. Finally, State of Wyoming boosted its position in Permian Resources by 126.8% in the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after purchasing an additional 1,640 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

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.