John Charles Bell Sells 2,804 Shares of Permian Resources Co. (NYSE:PR) Stock

Permian Resources Co. (NYSE:PR) EVP John Charles Bell sold 2,804 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the transaction, the executive vice president now owns 74,433 shares in the company, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Permian Resources Price Performance

Shares of PR opened at $12.45 on Friday. The company has a 50 day moving average of $14.60 and a two-hundred day moving average of $14.40. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.82%. Permian Resources’s payout ratio is 41.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler lowered 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 report on Thursday. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and boosted their price target for the company from $17.00 to $20.00 in a report on Wednesday. Morgan Stanley assumed coverage on Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective on the stock. Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Citigroup dropped their price target on Permian Resources from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $19.31.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Permian Resources by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company’s stock valued at $2,021,000 after acquiring an additional 662 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Permian Resources by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after acquiring an additional 700 shares during the period. Sunbelt Securities Inc. raised its stake in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the last quarter. CIBC Asset Management Inc lifted its position in Permian Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock worth $226,000 after acquiring an additional 805 shares during the period. Finally, Principal Securities Inc. lifted its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 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.