Permian Resources Co. (NYSE:PR) CFO Sells $134,043.30 in Stock

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 8,761 shares of the company’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 value of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Permian Resources Stock Down 0.3 %

Shares of Permian Resources stock opened at $14.95 on Friday. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The company has a market capitalization of $12.01 billion, a P/E ratio of 9.06, a PEG ratio of 0.88 and a beta of 4.32. The business’s fifty day moving average price is $14.76 and its two-hundred day moving average price is $14.67. 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 announced its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources’s revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. As a group, research analysts forecast that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Thursday, November 14th. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PR. UBS Group decreased their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company decreased their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Benchmark decreased their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Two equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.87.

Institutional Inflows and Outflows

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