Permian Resources (NYSE:PR) EVP Guy Oliphint Sells 62,769 Shares

Permian Resources Corporation (NYSE:PR) EVP Guy Oliphint sold 62,769 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares in the company, valued at $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Permian Resources Stock Performance

PR stock opened at $20.44 on Friday. The company has a 50 day moving average price of $20.51 and a 200 day moving average price of $17.05. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $17.11 billion, a PE ratio of 23.76 and a beta of 0.52.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. Analysts forecast that Permian Resources Corporation will post 1.98 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s payout ratio is 74.42%.

Institutional Investors Weigh In On Permian Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ruffer LLP bought a new position in Permian Resources during the third quarter worth $2,608,000. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Permian Resources by 24.7% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,263,570 shares of the company’s stock valued at $169,774,000 after purchasing an additional 2,628,744 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Permian Resources by 101.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 540,618 shares of the company’s stock valued at $6,920,000 after buying an additional 271,668 shares in the last quarter. SCP Investment LP increased its position in shares of Permian Resources by 225.0% in the third quarter. SCP Investment LP now owns 93,600 shares of the company’s stock worth $1,198,000 after purchasing an additional 64,800 shares during the period. Finally, Whittier Trust Co. bought a new position in shares of Permian Resources in the third quarter worth $6,107,000. 91.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PR has been the topic of several recent research reports. Weiss Ratings lowered Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Truist Financial raised their target price on Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company boosted their target price on Permian Resources from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. BMO Capital Markets raised Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $21.00 price target on shares of Permian Resources in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.38.

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.