Guy Oliphint Sells 5,103 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) EVP Guy Oliphint sold 5,103 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $121,196.25. Following the completion of the sale, the executive vice president directly owned 537,400 shares in the company, valued at $12,763,250. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Permian Resources Price Performance

PR stock opened at $23.38 on Friday. The stock has a 50-day moving average price of $21.00 and a two-hundred day moving average price of $20.18. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $24.09. The stock has a market cap of $19.58 billion, a PE ratio of 15.48 and a beta of 0.49. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.25.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.66 billion. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%.The company’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. Equities analysts forecast that Permian Resources Corporation will post 2.27 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. Permian Resources’s dividend payout ratio (DPR) is 42.38%.

Permian Resources News Roundup

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

• Positive Sentiment: Strong quarterly results: Permian Resources reported adjusted earnings of $0.69 per share, exceeding the $0.59 analyst consensus, while revenue of $1.86 billion surpassed the $1.66 billion estimate and increased 55.1% year over year. The results reinforced the company’s growth outlook and helped drive the post-earnings rally. Permian Resources post-earnings performance
• Positive Sentiment: Analyst upgrade: Wells Fargo raised Permian Resources to “strong buy,” adding to an already favorable consensus rating of “Buy.” Six analysts rate the stock a strong buy and 12 rate it a buy, supporting investor confidence.
• Positive Sentiment: Dividend support: The company declared a quarterly dividend of $0.16 per share, equivalent to a $0.64 annualized payout and an approximately 2.7% yield. Its 42.38% payout ratio indicates the dividend is supported by current earnings.
• Neutral Sentiment: Insider sales were limited and tax-related: Three executive vice presidents sold shares worth roughly $121,000 to $130,000 each. The transactions represented less than 1% of each executive’s holdings and were made to cover tax withholding on vested equity awards, reducing their significance as a bearish signal. Permian Resources insider transactions

Institutional Trading of Permian Resources

A number of institutional investors have recently modified their holdings of PR. Dimensional Fund Advisors LP grew its holdings in shares of Permian Resources by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock worth $443,856,000 after purchasing an additional 4,533,732 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Permian Resources by 115.5% in the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after purchasing an additional 13,483,136 shares in the last quarter. State Street Corp raised its stake in Permian Resources by 2.0% in the fourth quarter. State Street Corp now owns 23,553,393 shares of the company’s stock valued at $330,454,000 after purchasing an additional 460,158 shares in the last quarter. Wellington Management Group LLP lifted its position in Permian Resources by 3.9% during the second quarter. Wellington Management Group LLP now owns 20,156,113 shares of the company’s stock worth $371,074,000 after purchasing an additional 763,059 shares during the period. Finally, Boston Partners grew its stake in Permian Resources by 76.2% during the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock worth $222,099,000 after buying an additional 7,503,654 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on PR shares. Weiss Ratings raised Permian Resources from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Citigroup reduced their price target on Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Roth Capital set a $23.00 target price on Permian Resources and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Zacks Research cut shares of Permian Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Six analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $23.65.

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.