John Charles Bell Sells 2,804 Shares of Permian Resources Co. (NYSE:PR) Stock

Permian Resources Co. (NYSE:PR) EVP John Charles Bell sold 2,804 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now owns 74,433 shares of the company’s stock, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Permian Resources Stock Performance

Shares of PR opened at $12.46 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day moving average price of $14.63 and a two-hundred day moving average price of $14.42. The firm has a market capitalization of $10.01 billion, a P/E ratio of 7.55, a P/E/G ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio is presently 41.96%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PR shares. Citigroup decreased their price objective on Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial raised their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and raised their price objective for the company from $17.00 to $20.00 in a research report on Wednesday. Morgan Stanley started coverage on Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Piper Sandler raised their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.38.

Hedge Funds Weigh In On Permian Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. grew its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC bought a new position in Permian Resources during the fourth quarter valued at $31,000. Global Retirement Partners LLC lifted its position in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources during the fourth quarter worth $41,000. 91.84% of the stock is owned by institutional investors.

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.