Insider Selling: Permian Resources (NYSE:PR) EVP Sells 172,904 Shares of Stock

Permian Resources Corporation (NYSE:PR) EVP Guy Oliphint sold 172,904 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares in the company, valued at $8,405,389.29. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Permian Resources Stock Performance

Permian Resources stock traded down $0.13 during mid-day trading on Wednesday, reaching $13.50. The company’s stock had a trading volume of 9,662,991 shares, compared to its average volume of 7,864,542. The firm’s fifty day moving average price is $13.90 and its two-hundred day moving average price is $13.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.03. The company has a market capitalization of $11.19 billion, a P/E ratio of 12.38 and a beta of 0.66.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.22). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. Permian Resources’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, December 17th. Permian Resources’s dividend payout ratio is presently 55.05%.

Key Permian Resources News

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.

Institutional Trading of Permian Resources

A number of institutional investors have recently modified their holdings of the company. Vident Advisory LLC lifted its stake 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 in the last quarter. Royal Bank of Canada lifted its position in Permian Resources by 65.3% in 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 in the last quarter. EP Wealth Advisors LLC bought a new position in Permian Resources in the 1st quarter valued at approximately $283,000. AQR Capital Management LLC boosted its stake in Permian Resources by 69.2% during the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock valued at $2,060,000 after purchasing an additional 61,230 shares during the last quarter. Finally, Alliancebernstein L.P. boosted 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 valued at $16,596,000 after buying an additional 140,791 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PR shares. Royal Bank Of Canada increased their target price on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. The Goldman Sachs Group lifted 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. Piper Sandler reduced their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 29th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and a consensus price target of $19.07.

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.