Permian Resources (NYSE:PR) EVP Sells $72,314.15 in Stock

Permian Resources Corporation (NYSE:PR) EVP Robert Regan Shannon sold 3,865 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $18.71, for a total transaction of $72,314.15. Following the completion of the transaction, the executive vice president directly owned 1,356,802 shares in the company, valued at approximately $25,385,765.42. The trade was a 0.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Robert Regan Shannon also recently made the following trade(s):

• On Wednesday, March 4th, Robert Regan Shannon sold 5,000 shares of Permian Resources stock. The shares were sold at an average price of $18.28, for a total value of $91,400.00.
• On Tuesday, January 6th, Robert Regan Shannon sold 106,405 shares of Permian Resources stock. The stock was sold at an average price of $13.63, for a total value of $1,450,300.15.
• On Monday, January 5th, Robert Regan Shannon sold 70,254 shares of Permian Resources stock. The stock was sold at an average price of $13.76, for a total value of $966,695.04.

Permian Resources Stock Performance

NYSE:PR opened at $18.88 on Friday. The stock has a market cap of $15.66 billion, a P/E ratio of 15.10 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $15.99 and its two-hundred day moving average price is $14.39. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $19.38.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.Permian Resources’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, equities analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 3.4%. This is a boost from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio is presently 48.00%.

Key Stories Impacting Permian Resources

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Piper Sandler raised its price target to $24 and moved to an “overweight” rating, implying material upside and likely supporting buying interest. Piper Sandler raises target
• Positive Sentiment: UBS increased its target to $23 and kept a “buy” rating, another buy-side endorsement that can attract institutional flows. UBS raises target
• Positive Sentiment: Citigroup lifted its target to $21 and reiterated a “buy” note, adding to the cluster of upgrades. Citigroup raises target
• Positive Sentiment: Permian raised its quarterly dividend to $0.16 (ex?div Mar 17; payable Mar 31), increasing yield and making the shares more attractive to income-focused investors. MarketBeat — Dividend announcement
• Positive Sentiment: Large institutional purchases reported earlier (BNY Mellon, Vanguard, Millennium et al.) show heavy institutional ownership and recent inflows that can support the stock on positive news. MarketBeat — Institutional holdings
• Neutral Sentiment: Q4 results were mixed — EPS beat ($0.37 vs. $0.28) but revenue missed and was down ~9.8% YoY. The print supports valuation but raises questions on top-line momentum. MarketBeat — Q4 results
• Neutral Sentiment: Analyst coverage roundup (Benzinga) highlights divergent targets/ratings — useful context for trading but not a single directional catalyst. Benzinga analyst roundup
• Negative Sentiment: Clustered insider selling: multiple senior executives disclosed multi?million?dollar sales (including large blocks by the CEO and other EVPs). Heavy insider dispositions can sap sentiment and raise questions about timing/intent. InsiderTrades — Insider selling
• Negative Sentiment: Benchmark downgraded PR from “buy” to “hold,” which could reduce urgency among some buy?side managers despite other upgrades. MSN — Benchmark downgrade

Institutional Investors Weigh In On Permian Resources

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Permian Resources by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock valued at $2,060,000 after purchasing an additional 61,230 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Permian Resources by 18.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock worth $75,512,000 after purchasing an additional 852,347 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Permian Resources by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock worth $16,751,000 after purchasing an additional 87,105 shares during the period. Envestnet Asset Management Inc. lifted its stake in Permian Resources by 6.5% in the second quarter. Envestnet Asset Management Inc. now owns 898,087 shares of the company’s stock worth $12,232,000 after purchasing an additional 54,680 shares during the last quarter. Finally, World Investment Advisors lifted its stake in Permian Resources by 34.0% in the second quarter. World Investment Advisors now owns 13,961 shares of the company’s stock worth $190,000 after purchasing an additional 3,544 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PR. Susquehanna dropped their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a report on Monday, January 26th. UBS Group increased their target price on Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen upgraded Permian Resources to a “strong-buy” rating in a research report on Monday, February 9th. Piper Sandler lifted their price target on Permian Resources from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Bank of America reiterated a “neutral” rating and issued a $16.00 price objective (down from $17.00) on shares of Permian Resources in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.