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 firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Permian Resources Stock Up 0.3 %

Permian Resources stock traded up $0.05 during mid-day trading on Tuesday, reaching $14.99. The stock had a trading volume of 10,810,155 shares, compared to its average volume of 8,201,776. Permian Resources Co. has a one year low of $12.59 and a one year high of $18.28. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.88 and a beta of 4.32. The company has a 50-day moving average price of $14.68 and a two-hundred day moving average price of $14.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 60.3% on a year-over-year basis. On average, analysts expect that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm 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. 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 dividend yield of 4.00%. The ex-dividend date was Thursday, November 14th. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.

Institutional Investors Weigh In On Permian Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after buying an additional 2,023,742 shares during the last quarter. Tributary Capital Management LLC lifted its position in Permian Resources by 8,360.8% during the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock worth $699,000 after buying an additional 50,750 shares in the last quarter. South Street Advisors LLC acquired a new position in Permian Resources in the 3rd quarter valued at about $7,142,000. Oppenheimer Asset Management Inc. acquired a new stake in Permian Resources during the third quarter worth $556,000. Finally, King Luther Capital Management Corp boosted its stake in Permian Resources by 8.3% during the third quarter. King Luther Capital Management Corp now owns 5,234,447 shares of the company’s stock worth $71,241,000 after buying an additional 402,515 shares during the period. 91.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PR. UBS Group decreased their price target on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Benchmark dropped their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. Wells Fargo & Company dropped their price objective on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Piper Sandler dropped their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. 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 company. According to data from MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and an average target price of $18.87.

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.