Insider Selling: Permian Resources Co. (NYSE:PR) CFO Sells $58,058.50 in Stock

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the transaction, the chief financial officer now directly owns 130,467 shares of the company’s stock, valued at $1,825,233.33. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Permian Resources Trading Up 1.9 %

Permian Resources stock opened at $12.68 on Friday. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The firm’s 50 day moving average price is $14.60 and its two-hundred day moving average price is $14.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s payout ratio is 41.96%.

Institutional Investors Weigh In On Permian Resources

Several hedge funds have recently modified their holdings of PR. Kingsview Wealth Management LLC acquired a new stake in Permian Resources during the 4th quarter worth about $632,000. Wright Investors Service Inc. acquired a new stake in shares of Permian Resources during the fourth quarter valued at approximately $498,000. Point72 Asset Management L.P. lifted its position 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 valued at $74,811,000 after acquiring an additional 2,023,742 shares in the last quarter. South Street Advisors LLC acquired a new position in Permian Resources in the 3rd quarter worth approximately $7,142,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Permian Resources in the 3rd quarter worth approximately $556,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup cut their price target on Permian Resources from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler reduced their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and increased their price target for the stock from $17.00 to $20.00 in a research note on Wednesday. Truist Financial lifted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. One 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, Permian Resources has a consensus rating of “Buy” and an average target price of $19.31.

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.