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

Permian Resources Co. (NYSE:PR) EVP John Charles Bell sold 2,804 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Permian Resources Trading Up 0.1 %

Shares of Permian Resources stock opened at $12.45 on Friday. Permian Resources Co. has a fifty-two week low of $11.84 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 4.05 and a beta of 4.30. The stock has a 50 day moving average of $14.60 and a 200 day moving average of $14.40.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s payout ratio is 41.96%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new stake in shares of Permian Resources in the 4th quarter valued at approximately $632,000. Wright Investors Service Inc. acquired a new stake in Permian Resources in the 4th quarter valued at approximately $498,000. Point72 Asset Management L.P. raised its position in Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares during the period. South Street Advisors LLC acquired a new position in Permian Resources during the third quarter worth $7,142,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Permian Resources during the third quarter worth $556,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

PR has been the topic of several analyst reports. Morgan Stanley began coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. Citigroup lowered their target price on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial increased their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and raised their price objective for the company from $17.00 to $20.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $19.31.

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.