Aron Marquez Sells 7,750 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) Director Aron Marquez sold 7,750 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total transaction of $152,055.00. Following the sale, the director owned 72,218 shares in the company, valued at $1,416,917.16. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Aron Marquez also recently made the following trade(s):

• On Tuesday, March 17th, Aron Marquez sold 5,250 shares of Permian Resources stock. The shares were sold at an average price of $19.57, for a total transaction of $102,742.50.

Permian Resources Price Performance

Shares of Permian Resources stock traded up $0.35 on Thursday, reaching $19.96. 15,093,669 shares of the stock were exchanged, compared to its average volume of 12,585,080. The firm’s 50 day moving average is $16.84 and its 200-day moving average is $14.69. Permian Resources Corporation has a one year low of $10.01 and a one year high of $20.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $16.55 billion, a PE ratio of 15.97, a P/E/G ratio of 3.90 and a beta of 0.66.

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

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio is 51.20%.

Hedge Funds Weigh In On Permian Resources

Large investors have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its position in Permian Resources by 4.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after purchasing an additional 607 shares during the last quarter. Waterloo Capital L.P. grew its position in shares of Permian Resources by 3.1% in the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after buying an additional 657 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Permian Resources by 5.4% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after buying an additional 706 shares during the last quarter. Curated Wealth Partners LLC increased its stake in shares of Permian Resources by 1.1% in the fourth quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after buying an additional 747 shares during the period. Finally, Chilton Capital Management LLC increased its stake in shares of Permian Resources by 3.5% in the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after buying an additional 800 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PR shares. The Goldman Sachs Group upped their price objective on Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. UBS Group boosted their target price on Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Royal Bank Of Canada increased their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their price target on shares of Permian Resources from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Zacks Research raised shares of Permian Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.85.

About Permian Resources

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.