Aron Marquez Sells 5,250 Shares of Permian Resources (NYSE:PR) Stock

by · The Markets Daily

Permian Resources Corporation (NYSE:PRGet Free Report) Director Aron Marquez sold 5,250 shares of Permian Resources stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $19.57, for a total transaction of $102,742.50. Following the completion of the transaction, the director owned 79,968 shares of the company’s stock, valued at $1,564,973.76. The trade was a 6.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Wednesday, March 18th, Aron Marquez sold 7,750 shares of Permian Resources stock. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00.

Permian Resources Stock Performance

Shares of PR stock traded up $0.35 during trading on Thursday, reaching $19.96. 15,093,669 shares of the company’s stock traded hands, 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. The company has a market capitalization of $16.55 billion, a P/E ratio of 15.97, a PEG ratio of 3.90 and a beta of 0.66. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $20.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PRGet Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.36 EPS. Permian Resources’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts expect that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on PR. Susquehanna dropped their price objective on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a report on Monday, January 26th. The Goldman Sachs Group upped their price target on Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Piper Sandler increased their price target on shares of Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Weiss Ratings upgraded shares of Permian Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Finally, UBS Group boosted their price objective on shares of Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.85.

View Our Latest Analysis on Permian Resources

Hedge Funds Weigh In On Permian Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PR. Rockefeller Capital Management L.P. increased its stake in Permian Resources by 6.6% in the 4th 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 during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Permian Resources by 80.0% in the 4th 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 bought a new stake in shares of Permian Resources during the 4th quarter valued at about $27,000. Fearnley Asset Management AS purchased a new position in shares of Permian Resources during the fourth quarter worth about $7,175,000. Finally, Virtu Financial LLC purchased a new position in shares of Permian Resources during the fourth quarter worth about $389,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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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