Guy Oliphint Sells 62,769 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) EVP Guy Oliphint sold 62,769 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president owned 542,503 shares of the company’s stock, valued at $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Permian Resources Trading Down 2.2%

Shares of NYSE PR traded down $0.46 during trading hours on Thursday, reaching $20.44. The stock had a trading volume of 8,706,449 shares, compared to its average volume of 13,700,096. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The firm has a market cap of $17.11 billion, a price-to-earnings ratio of 23.76 and a beta of 0.52. The business’s fifty day moving average price is $20.51 and its two-hundred day moving average price is $17.05. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.Permian Resources’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. Analysts expect that Permian Resources Corporation will post 1.98 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. Permian Resources’s payout ratio is 74.42%.

Hedge Funds Weigh In On Permian Resources

A number of large investors have recently made changes to their positions in PR. Bank of New York Mellon Corp increased its position in shares of Permian Resources by 115.5% in the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after acquiring an additional 13,483,136 shares during the period. Boston Partners increased its position in shares of Permian Resources by 76.2% in the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after acquiring an additional 7,503,654 shares during the period. Vanguard Group Inc. increased its position in shares of Permian Resources by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after acquiring an additional 6,705,644 shares during the period. Millennium Management LLC increased its position in shares of Permian Resources by 210.6% in the 3rd quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock valued at $126,081,000 after acquiring an additional 6,678,814 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Permian Resources in the 1st quarter valued at $121,041,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PR has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Citigroup boosted their price objective on shares of Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. 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 note on Monday, January 26th. Truist Financial boosted their price objective on shares of Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, KeyCorp initiated coverage on Permian Resources in a research report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.38.

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.