Permian Resources Target of Unusually Large Options Trading (NYSE:PR)

Permian Resources Corporation (NYSE:PR) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 10,794 call options on the company. This is an increase of 329% compared to the typical daily volume of 2,516 call options.

Insider Buying and Selling

In other Permian Resources news, CEO James H. Walter sold 467,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $6,374,751.00. Following the completion of the sale, the chief executive officer directly owned 1,010,138 shares in the company, valued at approximately $13,768,180.94. The trade was a 31.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Regan Shannon sold 106,405 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $1,450,300.15. Following the sale, the executive vice president owned 360,667 shares of the company’s stock, valued at $4,915,891.21. The trade was a 22.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,210,456 shares of company stock worth $30,231,728 in the last quarter. 12.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Permian Resources

Several institutional investors have recently modified their holdings of PR. Exchange Traded Concepts LLC acquired a new stake in shares of Permian Resources in the fourth quarter valued at $273,000. Signal Advisors Wealth LLC raised its position in Permian Resources by 28.9% in the 4th quarter. Signal Advisors Wealth LLC now owns 18,349 shares of the company’s stock valued at $257,000 after purchasing an additional 4,109 shares in the last quarter. Curated Wealth Partners LLC boosted its stake in shares of Permian Resources by 1.1% in the 4th 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. SG Americas Securities LLC grew its position in shares of Permian Resources by 344.0% during the fourth quarter. SG Americas Securities LLC now owns 371,828 shares of the company’s stock worth $5,217,000 after buying an additional 288,088 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Permian Resources by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 156,208 shares of the company’s stock worth $2,128,000 after buying an additional 4,525 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank initiated coverage on shares of Permian Resources in a research note on Friday, September 19th. They set a “sector outperform” rating and a $21.00 price objective for the company. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. The Goldman Sachs Group lifted their price target on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Royal Bank Of Canada raised their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, UBS Group boosted their target price on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.79.

Permian Resources Trading Up 4.4%

NYSE:PR traded up $0.63 during trading hours on Wednesday, reaching $14.85. 6,725,966 shares of the stock were exchanged, compared to its average volume of 10,741,993. Permian Resources has a twelve month low of $10.01 and a twelve month high of $16.03. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $14.03 and a two-hundred day moving average of $13.62. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 13.61 and a beta of 0.66.

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

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, December 17th. Permian Resources’s dividend payout ratio is presently 55.05%.

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.