Investors Purchase Large Volume of Call Options on Permian Resources (NASDAQ:PR)

Permian Resources Co. (NASDAQ:PR) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 17,809 call options on the company. This represents an increase of approximately 529% compared to the average volume of 2,833 call options.

Permian Resources Stock Performance

PR traded up $0.01 on Tuesday, hitting $17.18. The company’s stock had a trading volume of 1,868,934 shares, compared to its average volume of 9,362,157. The company’s 50 day simple moving average is $16.45 and its 200-day simple moving average is $14.60. The firm has a market cap of $13.26 billion, a P/E ratio of 14.75 and a beta of 4.35. Permian Resources has a 12 month low of $8.94 and a 12 month high of $18.28. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42.

Permian Resources (NASDAQ:PR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Analysts forecast that Permian Resources will post 1.72 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.16%. The ex-dividend date was Tuesday, March 12th. Permian Resources’s payout ratio is 17.24%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Brent P. Jensen sold 203,687 shares of Permian Resources stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of Permian Resources stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the transaction, the insider now owns 25,477,527 shares in the company, valued at approximately $400,251,949.17. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 over the last quarter. Corporate insiders own 23.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PR. Parallel Advisors LLC boosted its holdings in Permian Resources by 117.0% in the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after purchasing an additional 1,178 shares during the period. Rise Advisors LLC purchased a new stake in shares of Permian Resources during the 1st quarter valued at $32,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Permian Resources during the 4th quarter valued at $33,000. GAMMA Investing LLC purchased a new stake in shares of Permian Resources during the 4th quarter valued at $43,000. Finally, Clearstead Advisors LLC purchased a new stake in shares of Permian Resources during the 3rd quarter valued at $45,000. 91.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PR shares. Wells Fargo & Company boosted their target price on shares of Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Piper Sandler upped their price objective on shares of Permian Resources from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho upped their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate 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.