Permian Resources Co. (NYSE:PR) CAO Robert Regan Shannon Sells 2,731 Shares

Permian Resources Co. (NYSE:PR) CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Permian Resources Trading Down 0.8 %

PR opened at $12.46 on Thursday. 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 current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 4.05 and a beta of 4.28. The company’s 50 day moving average price is $14.63 and its two-hundred day moving average price is $14.42.

Permian Resources Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PR shares. Truist Financial lifted their price objective 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. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $17.00 to $20.00 in a report on Wednesday. Citigroup reduced their target price on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley started coverage on shares of Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price for the company. Finally, Piper Sandler lifted their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One 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. Based on data from MarketBeat.com, Permian Resources has an average rating of “Buy” and an average target price of $19.38.

Institutional Investors Weigh In On Permian Resources

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in Permian Resources by 32.4% during the third quarter. State of Alaska Department of Revenue now owns 73,710 shares of the company’s stock worth $1,003,000 after acquiring an additional 18,025 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Permian Resources by 151.4% during the third quarter. Nisa Investment Advisors LLC now owns 17,179 shares of the company’s stock worth $234,000 after buying an additional 10,346 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Permian Resources by 42.8% during the third quarter. New York State Teachers Retirement System now owns 197,179 shares of the company’s stock worth $2,684,000 after buying an additional 59,099 shares during the last quarter. River Road Asset Management LLC raised its holdings in Permian Resources by 0.9% during the third quarter. River Road Asset Management LLC now owns 5,002,382 shares of the company’s stock worth $68,082,000 after buying an additional 43,885 shares during the last quarter. Finally, Callahan Advisors LLC raised its holdings in Permian Resources by 25.7% during the third quarter. Callahan Advisors LLC now owns 14,674 shares of the company’s stock worth $200,000 after buying an additional 3,000 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

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.