Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint Sells 4,150 Shares

Permian Resources Co. (NYSE:PR) CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares of the company’s stock, valued at approximately $1,825,233.33. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Permian Resources Stock Performance

Shares of PR opened at $12.46 on Thursday. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $14.63 and its two-hundred day simple moving average is $14.42.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 payout ratio is currently 41.96%.

Institutional Trading of Permian Resources

Large investors have recently modified their holdings of the company. Principal Securities Inc. grew its holdings in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources in the fourth quarter worth $31,000. Global Retirement Partners LLC grew its holdings in shares of Permian Resources by 98.4% in 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 during the period. Rakuten Securities Inc. grew its holdings in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares during the period. Finally, RE Dickinson Investment Advisors LLC bought a new stake in Permian Resources during the fourth quarter valued at about $41,000. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price target on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup dropped their price target on Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley began coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Buy” and a consensus target price of $19.38.

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.