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

by · The Cerbat Gem

Permian Resources Corporation (NYSE:PRGet Free Report) Director Aron Marquez sold 7,750 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Permian Resources Trading Up 1.8%

Shares of NYSE PR traded up $0.35 during midday trading on Thursday, reaching $19.96. The stock had a trading volume of 15,093,669 shares, compared to its average volume of 12,585,080. The company’s 50 day moving average price is $16.84 and its 200 day moving average price is $14.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $20.17. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 3.90 and a beta of 0.66.

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

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, March 17th. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio (DPR) is 51.20%.

Institutional Trading of Permian Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in Permian Resources by 6.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,063 shares of the company’s stock worth $338,000 after acquiring an additional 1,498 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Permian Resources by 80.0% during the fourth quarter. Corient Private Wealth LLC now owns 80,764 shares of the company’s stock valued at $1,133,000 after acquiring an additional 35,905 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Permian Resources during the fourth quarter worth approximately $27,000. Fearnley Asset Management AS acquired a new position in shares of Permian Resources during the fourth quarter worth approximately $7,175,000. Finally, Virtu Financial LLC bought a new position in shares of Permian Resources in the 4th quarter worth $389,000. 91.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Morgan Stanley decreased their target price on Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Piper Sandler boosted their price target on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Susquehanna cut their price target on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Finally, The Goldman Sachs Group raised their price objective on shares of Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.85.

Read Our Latest Research Report on Permian Resources

Permian Resources Company Profile

(Get Free Report)

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.

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