Permian Resources (NYSE:PR) EVP John Charles Bell Sells 158,385 Shares

Permian Resources Corporation (NYSE:PR) EVP John Charles Bell sold 158,385 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.39, for a total transaction of $2,912,700.15. Following the completion of the sale, the executive vice president directly owned 1,567,172 shares in the company, valued at $28,820,293.08. This represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, March 3rd, John Charles Bell sold 4,128 shares of Permian Resources stock. The shares were sold at an average price of $18.71, for a total transaction of $77,234.88.
• On Tuesday, January 6th, John Charles Bell sold 106,399 shares of Permian Resources stock. The stock was sold at an average price of $13.63, for a total value of $1,450,218.37.
• On Monday, January 5th, John Charles Bell sold 70,249 shares of Permian Resources stock. The stock was sold at an average price of $13.76, for a total value of $966,626.24.

Permian Resources Trading Down 0.4%

PR stock traded down $0.07 during trading on Friday, reaching $18.77. 1,122,418 shares of the stock traded hands, compared to its average volume of 12,038,385. The business’s 50 day moving average price is $15.89 and its 200-day moving average price is $14.34. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $19.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $15.57 billion, a PE ratio of 15.02 and a beta of 0.66.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. As a group, sell-side analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.16 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 3.4%. Permian Resources’s dividend payout ratio is currently 51.20%.

Trending Headlines about Permian Resources

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

• Positive Sentiment: Piper Sandler raised its price target on PR from $20 to $24 and moved to an “overweight” rating, implying substantial upside versus the current price and signaling stronger analyst conviction in the company’s outlook. Read More.
• Positive Sentiment: UBS increased its target to $23 and reiterated a “buy” rating, another analyst upgrade that boosts near-term demand expectations for the stock. Read More.
• Neutral Sentiment: Aggregated analyst commentary roundup — Benzinga summarizes what multiple analysts are saying about Permian Resources, useful for seeing the broader consensus behind the recent upgrades. Read More.
• Negative Sentiment: CEO William M. Hickey III sold 898,423 shares at an average of $18.38 (~$16.5M), reducing his stake by ~8.73% — a large insider disposition that can weigh on investor sentiment. Read More.
• Negative Sentiment: Another senior insider, James H. Walter, sold 673,425 shares at ~$18.38 (~$12.4M), cutting his position by ~6.69%; this is another material executive sale disclosed the same period. Read More.
• Negative Sentiment: EVP John Charles Bell reported a sizable sale of 158,385 shares at ~$18.39 (a ~9.18% reduction in one filing), adding to the cluster of insider sales. Read More.
• Negative Sentiment: Several other executive-level sales (EVPs Robert Regan Shannon, Guy M. Oliphint and others) were disclosed in the same window — smaller individually but cumulatively notable. Example filing: Shannon’s Form 4. Read More.

Institutional Trading of Permian Resources

A number of institutional investors have recently made changes to their positions in PR. Bank of New York Mellon Corp boosted its stake in Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after purchasing an additional 13,483,136 shares in the last quarter. Boston Partners bought a new stake in shares of Permian Resources during the 2nd quarter worth $134,119,000. Vanguard Group Inc. boosted its position in shares of Permian Resources by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after purchasing an additional 6,705,644 shares during the period. Millennium Management LLC increased its stake in Permian Resources by 210.6% in the 3rd quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after purchasing an additional 6,678,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Permian Resources by 20.9% in the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock worth $346,919,000 after acquiring an additional 4,691,280 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America reiterated a “neutral” rating and set a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. Piper Sandler increased their price target on shares of Permian Resources from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Permian Resources in a research report on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 price target on shares of Permian Resources in a report on Thursday, February 26th. Finally, Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.58.

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.