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 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 sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Permian Resources Price Performance

PR stock opened at $12.68 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50-day moving average is $14.60 and its 200-day moving average is $14.40. The stock has a market capitalization of $10.18 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.73%. Permian Resources’s payout ratio is 41.96%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Truist Financial boosted 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. Morgan Stanley initiated 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. Citigroup dropped their target price on Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Piper Sandler decreased 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 Thursday. Finally, Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and increased their price objective for the company from $17.00 to $20.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $19.31.

Hedge Funds Weigh In On Permian Resources

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Permian Resources by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company’s stock worth $944,487,000 after purchasing an additional 870,622 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Permian Resources by 60.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company’s stock worth $469,856,000 after purchasing an additional 12,306,854 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Permian Resources in the 4th quarter worth approximately $431,676,000. State Street Corp raised its holdings in shares of Permian Resources by 6.1% in the 3rd quarter. State Street Corp now owns 22,027,153 shares of the company’s stock worth $299,790,000 after purchasing an additional 1,263,460 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Permian Resources by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company’s stock worth $265,209,000 after purchasing an additional 291,444 shares during the period. Institutional investors own 91.84% of the company’s stock.

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.