Permian Resources (NYSE:PR) EVP Robert Regan Shannon Sells 70,254 Shares of Stock

Permian Resources Corporation (NYSE:PR) EVP Robert Regan Shannon sold 70,254 shares of Permian Resources stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $13.76, for a total transaction of $966,695.04. Following the sale, the executive vice president owned 467,072 shares in the company, valued at approximately $6,426,910.72. The trade was a 13.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Robert Regan Shannon also recently made the following trade(s):

• On Tuesday, January 6th, Robert Regan Shannon sold 106,405 shares of Permian Resources stock. The stock was sold at an average price of $13.63, for a total transaction of $1,450,300.15.

Permian Resources Price Performance

PR traded down $0.13 during trading on Wednesday, hitting $13.50. 9,662,991 shares of the company traded hands, compared to its average volume of 7,864,542. 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 $11.19 billion, a PE ratio of 12.38 and a beta of 0.66. The stock’s 50-day simple moving average is $13.90 and its two-hundred day simple moving average is $13.61. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $16.03.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Permian Resources Corporation 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.4%. The ex-dividend date was Wednesday, December 17th. Permian Resources’s dividend payout ratio (DPR) is currently 55.05%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Permian Resources in a report on Monday, December 29th. Wall Street Zen raised Permian Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Royal Bank Of Canada upped their price objective on Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. The Goldman Sachs Group lifted their target price on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Mizuho boosted their target price on Permian Resources from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.07.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PR. Vident Advisory LLC raised its holdings in shares of Permian Resources by 9.9% in the first quarter. Vident Advisory LLC now owns 11,321 shares of the company’s stock worth $157,000 after buying an additional 1,019 shares during the period. Royal Bank of Canada boosted its holdings in Permian Resources by 65.3% during the 1st quarter. Royal Bank of Canada now owns 1,484,088 shares of the company’s stock valued at $20,555,000 after acquiring an additional 586,115 shares during the period. EP Wealth Advisors LLC bought a new position in Permian Resources in the 1st quarter valued at $283,000. AQR Capital Management LLC increased its stake in Permian Resources by 69.2% in the first quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after purchasing an additional 61,230 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Permian Resources by 13.3% during the first quarter. Alliancebernstein L.P. now owns 1,198,265 shares of the company’s stock worth $16,596,000 after purchasing an additional 140,791 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Trending Headlines about Permian Resources

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

• Positive Sentiment: Permian announced completion of a previously disclosed corporate reorganization in which management and certain long‑term holders exchanged Class C shares for Class A shares, a move the company says aligns management ownership with public investors and may reduce governance concerns. Read More.
• Negative Sentiment: CEO William M. Hickey III sold 467,725 shares on Jan. 6 at an average ~$13.63 (~$6.38M). Read More.
• Negative Sentiment: CEO William M. Hickey III sold 309,980 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
• Negative Sentiment: CEO James H. Walter sold 467,700 shares on Jan. 6 at an average ~$13.63 (~$6.37M). Read More.
• Negative Sentiment: CEO James H. Walter sold 310,003 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
• Negative Sentiment: EVP John Charles Bell sold 106,399 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,249 shares on Jan. 5 at ~$13.76 (~$0.97M), reducing his holdings materially. Read More.
• Negative Sentiment: EVP Robert Regan Shannon sold 106,405 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,254 shares on Jan. 5 at ~$13.76 (~$0.97M), trimming his stake. Read More.
• Negative Sentiment: EVP Guy M. Oliphint sold 172,904 shares on Jan. 6 at an average ~$13.63 (~$2.36M), reducing his ownership by ~21.9%. Read More.

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.