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

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Permian Resources Price Performance

Shares of NYSE:PR opened at $14.99 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $12.04 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.88 and a beta of 4.32. The business has a 50-day moving average of $14.71 and a two-hundred day moving average of $14.66. Permian Resources Co. has a fifty-two week low of $12.59 and a fifty-two week high of $18.28.

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, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was up 60.3% on a year-over-year basis. On average, equities research analysts predict that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a $0.15 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 36.36%.

Wall Street Analyst Weigh In

PR has been the subject of several research analyst reports. Truist Financial increased their price objective on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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 report on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Monday, October 14th. Finally, Wells Fargo & Company lowered 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PR. Hexagon Capital Partners LLC increased its stake in shares of Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after purchasing an additional 1,998 shares during the period. UMB Bank n.a. increased 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 worth $38,000 after buying an additional 1,390 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after buying an additional 800 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after buying an additional 2,629 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Permian Resources in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.