Permian Resources (NYSE:PR) Stock Price Down 13.3% – Should You Sell?

Permian Resources Co. (NYSE:PR)’s share price was down 13.3% on Friday . The stock traded as low as $10.90 and last traded at $10.64. Approximately 1,502,478 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 9,438,017 shares. The stock had previously closed at $12.26.

Analyst Ratings Changes

A number of analysts recently weighed in on PR shares. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Morgan Stanley decreased their target price on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Bank of America reduced their price objective on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Piper Sandler lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Stock Down 12.4 %

The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $14.34. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 5.59%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Insider Buying and Selling at Permian Resources

In other news, EVP John Charles Bell sold 2,804 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 74,433 shares in the company, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the transaction, the director now owns 812,429 shares of the company’s stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $135,687. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Principal Securities Inc. lifted its position in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Permian Resources during the fourth quarter worth $31,000. Global Retirement Partners LLC boosted its position in Permian Resources by 98.4% in 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. grew its stake in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares during the period. Finally, RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources during the 4th quarter valued at $41,000. 91.84% of the stock is owned by institutional investors.

Permian Resources Company Profile

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.