Permian Resources Co. (NASDAQ:PR) EVP Sells $67,156.53 in Stock

Permian Resources Co. (NASDAQ:PR) EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Permian Resources Stock Down 1.7 %

PR opened at $13.25 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.73 and a beta of 4.33. The business has a 50-day moving average of $15.08 and a two-hundred day moving average of $15.97. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28.

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

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s payout ratio is currently 21.82%.

Institutional Trading of Permian Resources

A number of institutional investors have recently modified their holdings of PR. Global Retirement Partners LLC purchased a new stake in shares of Permian Resources during the 1st quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of Permian Resources during the 1st quarter worth about $26,000. Parallel Advisors LLC grew its holdings in shares of Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares during the period. Innealta Capital LLC purchased a new stake in shares of Permian Resources during the 2nd quarter worth about $30,000. Finally, Rise Advisors LLC purchased a new stake in shares of Permian Resources during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group reduced their target price on Permian Resources from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Permian Resources in a research note on Monday, August 12th. BMO Capital Markets raised Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Wednesday, July 3rd. Piper Sandler cut their price target on Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Wolfe Research started coverage on Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.93.

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.