Permian Resources (NYSE:PR) EVP John Charles Bell Sells 5,492 Shares

Permian Resources Corporation (NYSE:PR) EVP John Bell sold 5,492 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $130,435.00. Following the completion of the transaction, the executive vice president directly owned 1,561,680 shares in the company, valued at approximately $37,089,900. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Permian Resources Trading Down 0.4%

Shares of NYSE:PR opened at $23.72 on Friday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $24.09. The firm has a fifty day moving average price of $20.91 and a 200 day moving average price of $20.16. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $19.87 billion, a PE ratio of 15.71 and a beta of 0.49.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%.The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue was up 55.1% on a year-over-year basis. Analysts expect that Permian Resources Corporation will post 2.24 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, September 16th. Permian Resources’s dividend payout ratio (DPR) is 42.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PR. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Permian Resources by 4.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after purchasing an additional 607 shares in the last quarter. Bessemer Group Inc. increased its position in Permian Resources by 21.3% in the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock valued at $76,000 after acquiring an additional 621 shares in the last quarter. Waterloo Capital L.P. increased its stake in shares of Permian Resources by 3.1% in the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after buying an additional 657 shares during the period. Dean Investment Associates LLC boosted its stake in shares of Permian Resources by 0.3% in the 4th quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock valued at $3,727,000 after purchasing an additional 922 shares during the last quarter. Finally, Callahan Advisors LLC grew its position in shares of Permian Resources by 4.8% during the 4th quarter. Callahan Advisors LLC now owns 22,093 shares of the company’s stock worth $310,000 after buying an additional 1,004 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho upgraded Permian Resources to a “strong-buy” rating in a research note on Friday, July 31st. Evercore started coverage on shares of Permian Resources in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 price target on the stock. Roth Capital set a $23.00 price target on shares of Permian Resources and gave the stock a “buy” rating in a research note on Monday, June 22nd. Citigroup lowered their price objective on Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Six analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Buy” and an average price target of $23.65.

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.