Permian Resources (NYSE:PR) CEO James Walter Sells 673,425 Shares of Stock

Permian Resources Corporation (NYSE:PR) CEO James Walter sold 673,425 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the transaction, the chief executive officer owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Permian Resources Stock Performance

Shares of NYSE PR traded down $0.07 during midday trading on Friday, reaching $18.77. 1,122,418 shares of the stock were exchanged, compared to its average volume of 12,038,385. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 15.02 and a beta of 0.66. The firm has a 50-day simple moving average of $15.89 and a two-hundred day simple moving average of $14.34. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $19.38.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. As a group, analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given 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 dividend yield of 3.4%. Permian Resources’s payout ratio is 51.20%.

Key Stories Impacting Permian Resources

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

• Positive Sentiment: Piper Sandler raised its price target on PR from $20 to $24 and moved to an “overweight” rating, implying substantial upside versus the current price and signaling stronger analyst conviction in the company’s outlook. Read More.
• Positive Sentiment: UBS increased its target to $23 and reiterated a “buy” rating, another analyst upgrade that boosts near-term demand expectations for the stock. Read More.
• Neutral Sentiment: Aggregated analyst commentary roundup — Benzinga summarizes what multiple analysts are saying about Permian Resources, useful for seeing the broader consensus behind the recent upgrades. Read More.
• Negative Sentiment: CEO William M. Hickey III sold 898,423 shares at an average of $18.38 (~$16.5M), reducing his stake by ~8.73% — a large insider disposition that can weigh on investor sentiment. Read More.
• Negative Sentiment: Another senior insider, James H. Walter, sold 673,425 shares at ~$18.38 (~$12.4M), cutting his position by ~6.69%; this is another material executive sale disclosed the same period. Read More.
• Negative Sentiment: EVP John Charles Bell reported a sizable sale of 158,385 shares at ~$18.39 (a ~9.18% reduction in one filing), adding to the cluster of insider sales. Read More.
• Negative Sentiment: Several other executive-level sales (EVPs Robert Regan Shannon, Guy M. Oliphint and others) were disclosed in the same window — smaller individually but cumulatively notable. Example filing: Shannon’s Form 4. Read More.

Institutional Investors Weigh In On Permian Resources

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

Analyst Ratings Changes

A number of equities analysts have issued reports on PR shares. Wells Fargo & Company increased their price target on Permian Resources from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a research report on Monday, December 29th. Zacks Research raised shares of Permian Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Susquehanna reduced their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Finally, The Goldman Sachs Group lifted their target price on shares of Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.58.

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.