Guy Oliphint Sells 62,769 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) EVP Guy Oliphint sold 62,769 shares of Permian Resources stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president directly owned 542,503 shares in the company, valued at $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Permian Resources Price Performance

Shares of PR stock traded down $0.46 during trading hours on Thursday, hitting $20.44. The stock had a trading volume of 8,706,449 shares, compared to its average volume of 13,700,096. Permian Resources Corporation has a one year low of $11.92 and a one year high of $22.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The stock’s 50-day moving average price is $20.51 and its two-hundred day moving average price is $17.05. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 23.76 and a beta of 0.52.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Permian Resources Corporation will post 1.98 EPS for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s payout ratio is presently 74.42%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Permian Resources from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. TD Cowen boosted their price objective on Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Roth Mkm reissued a “neutral” rating and set a $22.00 price objective (up from $20.00) on shares of Permian Resources in a research note on Wednesday, April 8th. The Goldman Sachs Group boosted their price objective on Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $21.00 price objective on shares of Permian Resources in a research note on Thursday, February 26th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.38.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PR. SHP Wealth Management purchased a new position in shares of Permian Resources during the fourth quarter valued at approximately $27,000. SJS Investment Consulting Inc. boosted 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 period. Los Angeles Capital Management LLC purchased a new stake in shares of Permian Resources in the fourth quarter valued at approximately $39,000. State of Wyoming boosted its holdings in shares of Permian Resources by 126.8% in the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after purchasing an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC purchased a new stake in shares of Permian Resources in the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.