Permian Resources Co. (NASDAQ:PR) Director Jeffrey Tepper Sells 65,000 Shares of Stock

Permian Resources Co. (NASDAQ:PR) Director Jeffrey Tepper sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total transaction of $1,067,300.00. Following the completion of the sale, the director now directly owns 158,665 shares of the company’s stock, valued at approximately $2,605,279.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Permian Resources Trading Up 0.7 %

Permian Resources stock opened at $16.39 on Friday. The firm has a 50-day moving average of $17.15 and a 200-day moving average of $14.91. Permian Resources Co. has a one year low of $8.99 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 14.90 and a beta of 4.32.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Permian Resources had a net margin of 13.90% and a return on equity of 11.43%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. On average, equities analysts expect that Permian Resources Co. will post 1.81 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Tuesday, May 21st will be paid a $0.06 dividend. This is an increase from Permian Resources’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, May 20th. Permian Resources’s dividend payout ratio (DPR) is 18.18%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PR shares. Piper Sandler upped their target price on shares of Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Truist Financial upped their target price on shares of Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Susquehanna upped their target price on shares of Permian Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Raymond James started coverage on shares of Permian Resources in a research note on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.38.

Institutional Investors Weigh In On Permian Resources

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Permian Resources in the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. bought a new position in Permian Resources in the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new position in Permian Resources in the 1st quarter valued at about $32,000. Transcendent Capital Group LLC bought a new position in Permian Resources in the 1st quarter valued at about $36,000. Finally, Parallel Advisors LLC raised 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 acquiring an additional 1,178 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.