Insider Selling: Permian Resources (NYSE:PR) Director Sells $102,742.50 in Stock

Permian Resources Corporation (NYSE:PR) Director Aron Marquez sold 5,250 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $19.57, for a total value of $102,742.50. Following the completion of the transaction, the director owned 79,968 shares of the company’s stock, valued at $1,564,973.76. The trade was a 6.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Aron Marquez also recently made the following trade(s):

• On Wednesday, March 18th, Aron Marquez sold 7,750 shares of Permian Resources stock. The shares were sold at an average price of $19.62, for a total value of $152,055.00.

Permian Resources Price Performance

Shares of NYSE PR opened at $20.08 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. Permian Resources Corporation has a one year low of $10.01 and a one year high of $20.41. The firm has a market capitalization of $16.66 billion, a P/E ratio of 16.07, a PEG ratio of 4.02 and a beta of 0.66. The company’s fifty day moving average is $17.08 and its two-hundred day moving average is $14.77.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue was down 9.8% compared to the same quarter last year. Analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. This is a boost from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 17th. Permian Resources’s dividend payout ratio is 51.20%.

Institutional Trading of Permian Resources

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after purchasing an additional 13,483,136 shares during the last quarter. Boston Partners acquired a new stake in Permian Resources during the 2nd quarter valued at $134,119,000. Vanguard Group Inc. grew its holdings in Permian Resources by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after buying an additional 6,705,644 shares during the last quarter. Millennium Management LLC increased its position in Permian Resources by 210.6% during the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after buying an additional 6,678,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Permian Resources by 20.9% during the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock worth $346,919,000 after buying an additional 4,691,280 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PR. The Goldman Sachs Group boosted their price target on Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Susquehanna dropped their price objective on Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a research note on Monday, January 26th. Royal Bank Of Canada lifted their price objective on Permian Resources from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Benchmark lowered Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Citigroup raised their price target on Permian Resources from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.85.

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.