Insider Selling: Permian Resources (NYSE:PR) CEO Sells 310,003 Shares of Stock

Permian Resources Corporation (NYSE:PR) CEO James Walter sold 310,003 shares of Permian Resources stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $13.74, for a total value of $4,259,441.22. Following the completion of the transaction, the chief executive officer owned 1,477,838 shares of the company’s stock, valued at approximately $20,305,494.12. This represents a 17.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Permian Resources Price Performance

NYSE PR traded down $0.13 during trading hours on Wednesday, reaching $13.50. The company’s stock had a trading volume of 9,662,991 shares, compared to its average volume of 7,864,542. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 12.38 and a beta of 0.66. The company’s 50-day moving average is $13.90 and its two-hundred day moving average is $13.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. Permian Resources Corporation has a 1-year low of $10.01 and a 1-year high of $16.03.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.4%. Permian Resources’s dividend payout ratio is currently 55.05%.

More Permian Resources News

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Permian announced completion of a previously disclosed corporate reorganization in which management and certain long‑term holders exchanged Class C shares for Class A shares, a move the company says aligns management ownership with public investors and may reduce governance concerns. Read More.
• Negative Sentiment: CEO William M. Hickey III sold 467,725 shares on Jan. 6 at an average ~$13.63 (~$6.38M). Read More.
• Negative Sentiment: CEO William M. Hickey III sold 309,980 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
• Negative Sentiment: CEO James H. Walter sold 467,700 shares on Jan. 6 at an average ~$13.63 (~$6.37M). Read More.
• Negative Sentiment: CEO James H. Walter sold 310,003 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
• Negative Sentiment: EVP John Charles Bell sold 106,399 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,249 shares on Jan. 5 at ~$13.76 (~$0.97M), reducing his holdings materially. Read More.
• Negative Sentiment: EVP Robert Regan Shannon sold 106,405 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,254 shares on Jan. 5 at ~$13.76 (~$0.97M), trimming his stake. Read More.
• Negative Sentiment: EVP Guy M. Oliphint sold 172,904 shares on Jan. 6 at an average ~$13.63 (~$2.36M), reducing his ownership by ~21.9%. Read More.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in Permian Resources by 12.6% during the second quarter. UMB Bank n.a. now owns 6,953 shares of the company’s stock worth $95,000 after buying an additional 778 shares during the period. Chilton Capital Management LLC raised its stake in shares of Permian Resources by 3.5% in the 3rd quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after acquiring an additional 800 shares during the period. SCS Capital Management LLC boosted its position in shares of Permian Resources by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock worth $1,923,000 after purchasing an additional 870 shares during the period. Inscription Capital LLC increased its holdings in Permian Resources by 3.5% in the 3rd quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock valued at $361,000 after purchasing an additional 948 shares during the last quarter. Finally, Rothschild Investment LLC raised its position in Permian Resources by 7.1% in the third quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock valued at $188,000 after purchasing an additional 974 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PR shares. Royal Bank Of Canada boosted their target price on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Mizuho lifted their price objective on Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Permian Resources in a report on Monday, December 29th. Wells Fargo & Company decreased their target price on Permian Resources from $21.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Finally, UBS Group boosted their price target on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.07.

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.