Permian Resources Co. (NASDAQ:PR – Get Free Report) CAO Robert Regan Shannon sold 4,822 shares of the firm’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 transaction, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Permian Resources Price Performance
Shares of NASDAQ:PR opened at $13.25 on Friday. The stock has a market cap of $10.63 billion, a PE ratio of 12.05, a PEG ratio of 0.73 and a beta of 4.33. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average is $15.08 and its 200 day moving average is $15.97.
Permian Resources (NASDAQ:PR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The company’s revenue was up 99.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Research analysts anticipate that Permian Resources Co. will post 1.63 earnings per share for the current year.
Permian Resources Dividend Announcement
Institutional Investors Weigh In On Permian Resources
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Permian Resources by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company’s stock valued at $949,189,000 after purchasing an additional 5,432,654 shares in the last quarter. EnCap Energy Capital Fund XI L.P. bought a new stake in Permian Resources during the fourth quarter worth about $353,683,000. Massachusetts Financial Services Co. MA boosted its stake in Permian Resources by 9.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,607,623 shares of the company’s stock worth $268,213,000 after acquiring an additional 1,471,833 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Permian Resources by 59.6% during the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock worth $194,585,000 after acquiring an additional 4,497,184 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Permian Resources by 16.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,701,986 shares of the company’s stock worth $145,546,000 after acquiring an additional 1,544,525 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Citigroup cut their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Wednesday, July 3rd. Wolfe Research assumed coverage on shares of Permian Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler cut their price target on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.93.
Check Out Our Latest Analysis on Permian Resources
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.
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