Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint Sells 8,761 Shares

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Permian Resources Stock Performance

Permian Resources stock traded up $0.05 during mid-day trading on Tuesday, reaching $14.99. The company’s stock had a trading volume of 10,810,155 shares, compared to its average volume of 8,201,776. Permian Resources Co. has a 12-month low of $12.59 and a 12-month high of $18.28. The firm’s fifty day moving average price is $14.68 and its two-hundred day moving average price is $14.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $12.04 billion, a P/E ratio of 9.08, a PEG ratio of 0.88 and a beta of 4.32.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company’s revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. Sell-side analysts predict that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a yield of 4.00%. Permian Resources’s dividend payout ratio is presently 36.36%.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of recent research reports. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Piper Sandler cut their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Wells Fargo & Company cut their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. UBS Group lowered their price target on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.87.

Hedge Funds Weigh In On Permian Resources

Hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in shares of Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after acquiring an additional 1,998 shares during the last quarter. UMB Bank n.a. boosted its position in Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after buying an additional 1,390 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares in the last quarter. Blue Trust Inc. boosted its stake in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 2,629 shares during the period. Finally, National Bank of Canada FI purchased a new position in Permian Resources during the 3rd quarter worth $45,000. 91.84% of the stock is currently owned by institutional investors.

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.