John Charles Bell Sells 106,399 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) EVP John Charles Bell sold 106,399 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $1,450,218.37. Following the transaction, the executive vice president owned 376,442 shares in the company, valued at approximately $5,130,904.46. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

John Charles Bell also recently made the following trade(s):

• On Monday, January 5th, John Charles Bell sold 70,249 shares of Permian Resources stock. The shares were sold at an average price of $13.76, for a total transaction of $966,626.24.

Permian Resources Stock Performance

Shares of PR traded down $0.13 during midday trading on Wednesday, reaching $13.50. The stock had a trading volume of 9,662,991 shares, compared to its average volume of 7,864,542. The firm has a market cap of $11.19 billion, a PE ratio of 12.38 and a beta of 0.66. The firm has a 50 day simple moving average of $13.90 and a 200-day simple moving average of $13.61. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, December 17th. Permian Resources’s dividend payout ratio (DPR) is presently 55.05%.

Permian Resources News Summary

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Permian announced completion of a previously disclosed corporate reorganization in which management and certain long‑term holders exchanged Class C shares for Class A shares, a move the company says aligns management ownership with public investors and may reduce governance concerns. Read More.
• Negative Sentiment: CEO William M. Hickey III sold 467,725 shares on Jan. 6 at an average ~$13.63 (~$6.38M). Read More.
• Negative Sentiment: CEO William M. Hickey III sold 309,980 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
• Negative Sentiment: CEO James H. Walter sold 467,700 shares on Jan. 6 at an average ~$13.63 (~$6.37M). Read More.
• Negative Sentiment: CEO James H. Walter sold 310,003 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
• Negative Sentiment: EVP John Charles Bell sold 106,399 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,249 shares on Jan. 5 at ~$13.76 (~$0.97M), reducing his holdings materially. Read More.
• Negative Sentiment: EVP Robert Regan Shannon sold 106,405 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,254 shares on Jan. 5 at ~$13.76 (~$0.97M), trimming his stake. Read More.
• Negative Sentiment: EVP Guy M. Oliphint sold 172,904 shares on Jan. 6 at an average ~$13.63 (~$2.36M), reducing his ownership by ~21.9%. Read More.

Institutional Investors Weigh In On Permian Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Permian Resources by 114.1% in the third quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after acquiring an additional 1,047 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Permian Resources by 154.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after purchasing an additional 1,391 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Permian Resources during the 2nd quarter worth approximately $36,000. Parkside Financial Bank & Trust increased its holdings in shares of Permian Resources by 90.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after purchasing an additional 1,357 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Permian Resources by 204.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock valued at $52,000 after buying an additional 2,568 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Mizuho increased their price target on Permian Resources from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Royal Bank Of Canada upped their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Piper Sandler dropped their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Permian Resources in a report on Thursday, November 20th. Finally, The Goldman Sachs Group upped their price target on shares of Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and a consensus price target of $19.07.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.