Permian Resources Co. (NASDAQ:PR) CAO Robert Regan Shannon Sells 4,822 Shares of Stock

Permian Resources Co. (NASDAQ:PR) CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Permian Resources Stock Down 0.7 %

Shares of PR stock opened at $13.48 on Friday. The stock’s 50-day simple moving average is $15.14 and its 200-day simple moving average is $15.96. The firm has a market capitalization of $10.82 billion, a PE ratio of 12.25, a P/E/G ratio of 0.77 and a beta of 4.33. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50.

Permian Resources (NASDAQ:PR) last posted its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm’s quarterly revenue was up 99.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. Equities analysts expect that Permian Resources Co. will post 1.63 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio is currently 21.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler lowered their target price on Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Truist Financial raised their price objective on Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Susquehanna decreased their price target on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Permian Resources in a research report on Friday, June 14th. Finally, Citigroup lowered their target price on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $19.93.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in Permian Resources by 47.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,725,462 shares of the company’s stock worth $23,466,000 after acquiring an additional 554,694 shares in the last quarter. Mount Lucas Management LP purchased a new stake in shares of Permian Resources during the fourth quarter worth about $746,000. DRW Securities LLC acquired a new stake in Permian Resources in the 4th quarter worth about $1,904,000. Franklin Resources Inc. increased its stake in Permian Resources by 74.2% during the 4th quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock worth $4,783,000 after buying an additional 149,851 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Permian Resources by 10.4% during the first quarter. American International Group Inc. now owns 830,432 shares of the company’s stock valued at $14,665,000 after acquiring an additional 78,146 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.