Guy M. Oliphint Sells 8,761 Shares of Permian Resources Co. (NYSE:PR) Stock

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Permian Resources Price Performance

PR stock opened at $14.95 on Thursday. The stock has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $14.66. The company has a market cap 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 current ratio of 0.68, a quick 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.

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

Permian Resources Increases Dividend

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

Hedge Funds Weigh In On Permian Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in Permian Resources by 6.1% in the third quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after purchasing an additional 1,263,460 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after buying an additional 1,543,854 shares during the period. Geode Capital Management LLC raised its holdings in shares of Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after buying an additional 1,638,618 shares during the period. Renaissance Technologies LLC lifted its position in Permian Resources by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock worth $147,107,000 after acquiring an additional 1,555,884 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Permian Resources by 14.5% in the 3rd quarter. Jennison Associates LLC now owns 7,647,329 shares of the company’s stock worth $104,080,000 after acquiring an additional 966,940 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PR shares. UBS Group dropped their price target on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. Piper Sandler reduced their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Wells Fargo & Company decreased their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial boosted their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.87.

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.