Stock Traders Purchase High Volume of Permian Resources Call Options (NYSE:PR)

Permian Resources Corporation (NYSE:PR) was the recipient of some unusual options trading activity on Wednesday. Traders bought 10,794 call options on the company. This represents an increase of approximately 329% compared to the typical daily volume of 2,516 call options.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 106,399 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $1,450,218.37. Following the completion of the transaction, the executive vice president directly owned 376,442 shares in the company, valued at $5,130,904.46. The trade was a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Guy M. Oliphint sold 172,904 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares in the company, valued at approximately $8,405,389.29. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,210,456 shares of company stock valued at $30,231,728 over the last ninety days. Corporate insiders own 6.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PR. Farther Finance Advisors LLC boosted its position in Permian Resources by 114.1% in the third quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after buying an additional 1,047 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Permian Resources by 154.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after acquiring an additional 1,391 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Permian Resources in the second quarter worth $36,000. Parkside Financial Bank & Trust increased its stake in shares of Permian Resources by 90.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after acquiring an additional 1,357 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Permian Resources by 204.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock worth $52,000 after purchasing an additional 2,568 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PR shares. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Mizuho raised their target price on Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Scotiabank initiated coverage on shares of Permian Resources in a research report on Friday, September 19th. They set a “sector outperform” rating and a $21.00 price target for the company. Piper Sandler lowered their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Finally, Wells Fargo & Company cut their target price on shares of Permian Resources from $21.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.79.

Permian Resources Stock Performance

Shares of PR stock opened at $14.66 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The company has a market cap of $12.15 billion, a PE ratio of 13.44 and a beta of 0.66. The business’s fifty day simple moving average is $14.08 and its 200-day simple moving average is $13.62. Permian Resources has a 12-month low of $10.01 and a 12-month high of $16.03.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.22). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Analysts expect that Permian Resources will post 1.45 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared 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 of this dividend was Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.1%. Permian Resources’s payout ratio is currently 55.05%.

Permian Resources Company Profile

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.