Permian Resources Co. (NYSE:PR) EVP John Charles Bell Sells 2,804 Shares of Stock

Permian Resources Co. (NYSE:PR) EVP John Charles Bell sold 2,804 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now directly owns 74,433 shares of the company’s stock, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Permian Resources Stock Performance

PR opened at $12.46 on Thursday. The stock has a market cap of $10.01 billion, a PE ratio of 7.55, a P/E/G ratio of 4.05 and a beta of 4.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The stock’s 50 day simple moving average is $14.63 and its 200-day simple moving average is $14.42.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is 41.96%.

Institutional Trading of Permian Resources

Large investors have recently bought and sold shares of the stock. Principal Securities Inc. grew its position in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources during the fourth quarter worth $31,000. Global Retirement Partners LLC grew its holdings in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after acquiring an additional 2,305 shares during the period. Finally, RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources during the fourth quarter valued at $41,000. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PR. Piper Sandler raised their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and raised their target price for the company from $17.00 to $20.00 in a research note on Wednesday. Citigroup decreased their target price on Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley began coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 target price for the company. Finally, Truist Financial raised their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $19.38.

About Permian Resources

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.