Permian Resources (NYSE:PR) Director Aron Marquez Sells 7,750 Shares

Permian Resources Corporation (NYSE:PR) Director Aron Marquez sold 7,750 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of the sale, the director directly owned 72,218 shares in the company, valued at $1,416,917.16. This represents a 9.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, March 17th, Aron Marquez sold 5,250 shares of Permian Resources stock. The stock was sold at an average price of $19.57, for a total value of $102,742.50.

Permian Resources Stock Up 0.3%

PR opened at $20.03 on Friday. 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 Corporation has a 12 month low of $10.01 and a 12 month high of $20.17. The stock has a market capitalization of $16.61 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.93 and a beta of 0.66. The business has a 50 day simple moving average of $16.96 and a 200-day simple moving average of $14.73.

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

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.16 per share. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 17th. Permian Resources’s payout ratio is presently 51.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Royal Bank Of Canada lifted their price objective on Permian Resources from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Piper Sandler upped their target price on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Benchmark downgraded Permian Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Permian Resources from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday. One investment 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. Based on data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average price target of $20.85.

Hedge Funds Weigh In On Permian Resources

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after purchasing an additional 13,483,136 shares during the last quarter. Boston Partners acquired a new position in shares of Permian Resources in the second quarter valued at approximately $134,119,000. Vanguard Group Inc. lifted its stake in shares of Permian Resources by 10.4% during the third quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after buying an additional 6,705,644 shares during the period. Millennium Management LLC boosted its position in Permian Resources by 210.6% during the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after acquiring an additional 6,678,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Permian Resources by 20.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock valued at $346,919,000 after acquiring an additional 4,691,280 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.