Insider Selling: Permian Resources Co. (NYSE:PR) CFO Sells 8,761 Shares of Stock

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 8,761 shares of Permian Resources 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 transaction, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Permian Resources Trading Down 0.3 %

Shares of PR opened at $14.95 on Friday. The firm has a market capitalization of $12.01 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.88 and a beta of 4.32. 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 12-month low of $12.59 and a 12-month high of $18.28. The stock’s fifty day simple moving average is $14.76 and its 200-day simple moving average is $14.67.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $0.36 EPS. Permian Resources’s quarterly revenue was up 60.3% compared to the same quarter last year. As a group, research analysts predict that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.01%. Permian Resources’s dividend payout ratio (DPR) is 36.36%.

Wall Street Analyst Weigh In

PR has been the topic of several research analyst reports. UBS Group lowered their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Benchmark cut their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. Finally, Mizuho dropped their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. lifted its position in shares of Permian Resources by 33.4% during the 3rd 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. Avior Wealth Management LLC raised its stake in shares of Permian Resources by 0.9% in the third quarter. Avior Wealth Management LLC now owns 114,601 shares of the company’s stock valued at $1,560,000 after buying an additional 1,007 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Permian Resources by 9.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,939 shares of the company’s stock worth $209,000 after acquiring an additional 1,147 shares in the last quarter. Icon Wealth Advisors LLC grew its position in Permian Resources by 1.0% during the third quarter. Icon Wealth Advisors LLC now owns 130,880 shares of the company’s stock worth $1,781,000 after buying an additional 1,349 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Permian Resources by 0.7% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 184,475 shares of the company’s stock worth $2,511,000 after purchasing an additional 1,370 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

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.