Permian Resources Co. (NYSE:PR) Given Average Rating of “Moderate Buy” by Analysts

Permian Resources Co. (NYSE:PR) has been given an average rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.31.

A number of equities research analysts have commented on PR shares. JPMorgan Chase & Co. cut their target price on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Piper Sandler cut their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Finally, Truist Financial lifted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.

Permian Resources Trading Down 1.3 %

NYSE:PR opened at $13.79 on Wednesday. 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 has a 12 month low of $11.84 and a 12 month high of $18.28. The company has a market cap of $11.08 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The company has a 50 day simple moving average of $14.30 and a two-hundred day simple moving average of $14.33.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is 41.96%.

Insider Activity at Permian Resources

In related news, 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 transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Quinn bought 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is owned by corporate insiders.

Institutional Trading of Permian Resources

Hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. lifted its stake in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Permian Resources in the 4th quarter worth $31,000. Global Retirement Partners LLC lifted its stake in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC purchased a new stake in Permian Resources in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

About Permian Resources

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.