William Hickey III Sells 898,423 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) CEO William Hickey III sold 898,423 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the sale, the chief executive officer owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. The trade was a 8.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Permian Resources Stock Up 1.7%

Shares of NYSE:PR traded up $0.32 during mid-day trading on Thursday, reaching $18.85. 13,122,291 shares of the stock were exchanged, compared to its average volume of 12,453,093. The company has a market cap of $15.63 billion, a P/E ratio of 15.08 and a beta of 0.66. The stock’s 50 day simple moving average is $15.89 and its 200-day simple moving average is $14.34. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a one year low of $10.01 and a one year high of $19.38.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.36 earnings per share. Permian Resources’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.16 per share. This is a boost from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 3.4%. Permian Resources’s dividend payout ratio is 48.00%.

Hedge Funds Weigh In On Permian Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. SHP Wealth Management purchased a new position in shares of Permian Resources during the fourth quarter worth $27,000. Fearnley Asset Management AS acquired a new position in Permian Resources during the fourth quarter worth $7,175,000. Virtu Financial LLC purchased a new stake in Permian Resources in the 4th quarter valued at $389,000. Dean Capital Management increased its position in Permian Resources by 3.2% during the fourth quarter. Dean Capital Management now owns 139,966 shares of the company’s stock worth $1,964,000 after purchasing an additional 4,320 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in Permian Resources by 3.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,092,438 shares of the company’s stock worth $127,567,000 after acquiring an additional 341,674 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. UBS Group upped their target price on Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley cut their price target on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and a consensus target price of $19.58.

Trending Headlines about Permian Resources

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

• Positive Sentiment: Piper Sandler raised its price target to $24 and reiterated an Overweight rating, implying roughly a 27% upside from current levels — a strong bullish signal that likely helped lift the stock. Piper Sandler PT raise
• Positive Sentiment: UBS raised its price target to $23 and set a Buy rating (about a 22% implied upside), adding further analyst backing that supports higher investor demand. UBS PT raise
• Neutral Sentiment: Aggregated analyst commentary roundups (coverage summarized by Benzinga) provide broader context on expectations for Permian Resources but do not add a single directional surprise beyond the PT changes. Analyst roundup
• Negative Sentiment: Multiple insiders disclosed sizable sales this week: William M. Hickey III sold 898,423 shares and James H. Walter sold 673,425 shares (each sale at ~ $18.38), plus several EVP-level sales (large percentage reductions for some VPs). These block sales could pressure sentiment or be interpreted as material insider liquidity. Insider filings (sample)
• Negative Sentiment: Benchmark Co. downgraded PR from Buy to Hold, removing one source of buy-side conviction and tempering enthusiasm from some investors. Benchmark downgrade

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.