Permian Resources (NYSE:PR) Director Aron Marquez Sells 5,250 Shares

Permian Resources Corporation (NYSE:PR) Director Aron Marquez sold 5,250 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $19.57, for a total value of $102,742.50. Following the sale, the director owned 79,968 shares of the company’s stock, valued at approximately $1,564,973.76. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Aron Marquez also recently made the following trade(s):

• On Wednesday, March 18th, Aron Marquez sold 7,750 shares of Permian Resources stock. The shares were sold at an average price of $19.62, for a total value of $152,055.00.

Permian Resources Stock Performance

Shares of NYSE PR opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78. Permian Resources Corporation has a one year low of $10.01 and a one year high of $20.17. The business’s 50-day moving average price is $16.96 and its two-hundred day moving average price is $14.73. The company has a market capitalization of $16.59 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 3.93 and a beta of 0.66.

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

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.16 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, March 17th. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. Permian Resources’s dividend payout ratio (DPR) is currently 51.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PR. Rockefeller Capital Management L.P. lifted its position in Permian Resources by 6.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 24,063 shares of the company’s stock worth $338,000 after acquiring an additional 1,498 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Permian Resources by 80.0% in the fourth quarter. Corient Private Wealth LLC now owns 80,764 shares of the company’s stock valued at $1,133,000 after purchasing an additional 35,905 shares during the last quarter. SHP Wealth Management bought a new position in shares of Permian Resources in the fourth quarter worth about $27,000. Fearnley Asset Management AS acquired a new position in shares of Permian Resources during the 4th quarter worth about $7,175,000. Finally, Virtu Financial LLC acquired a new position in shares of Permian Resources during the 4th quarter worth about $389,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. TD Cowen raised their target price on Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler boosted their price target on Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Zacks Research upgraded Permian Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Citigroup increased their price objective on Permian Resources from $17.00 to $21.00 and gave the company a “buy” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.85.

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.