Permian Resources (NYSE:PR) CEO James Walter Sells 467,700 Shares

by · The Cerbat Gem

Permian Resources Corporation (NYSE:PR – Get Free Report) CEO James Walter sold 467,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were 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 owned 1,010,138 shares in the company, valued at approximately $13,768,180.94. The trade was a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Permian Resources Price Performance

NYSE:PR traded down $0.13 on Wednesday, hitting $13.50. The company had a trading volume of 9,662,991 shares, compared to its average volume of 7,864,542. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 12.38 and a beta of 0.66. The firm has a 50 day moving average of $13.90 and a two-hundred day moving average of $13.61.

Permian Resources (NYSE:PR – Get Free Report) last announced its quarterly 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). Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a $0.15 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $0.60 annualized dividend and a yield of 4.4%. Permian Resources’s dividend payout ratio (DPR) is currently 55.05%.

Wall Street Analyst Weigh In

PR has been the subject of several recent research reports. Scotiabank started coverage on Permian Resources in a research note on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 price objective for the company. Wall Street Zen upgraded shares of Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Permian Resources in a research note on Thursday, November 20th. Wells Fargo & Company reduced their price objective on shares of Permian Resources from $21.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Permian Resources in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.07.

View Our Latest Analysis on PR

Key Stories Impacting Permian Resources

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

  • Positive Sentiment: Permian announced completion of a previously disclosed corporate reorganization in which management and certain long‑term holders exchanged Class C shares for Class A shares, a move the company says aligns management ownership with public investors and may reduce governance concerns. Read More.
  • Negative Sentiment: CEO William M. Hickey III sold 467,725 shares on Jan. 6 at an average ~$13.63 (~$6.38M). Read More.
  • Negative Sentiment: CEO William M. Hickey III sold 309,980 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
  • Negative Sentiment: CEO James H. Walter sold 467,700 shares on Jan. 6 at an average ~$13.63 (~$6.37M). Read More.
  • Negative Sentiment: CEO James H. Walter sold 310,003 shares on Jan. 5 at an average ~$13.74 (~$4.26M). Read More.
  • Negative Sentiment: EVP John Charles Bell sold 106,399 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,249 shares on Jan. 5 at ~$13.76 (~$0.97M), reducing his holdings materially. Read More.
  • Negative Sentiment: EVP Robert Regan Shannon sold 106,405 shares on Jan. 6 at an average ~$13.63 (~$1.45M) and 70,254 shares on Jan. 5 at ~$13.76 (~$0.97M), trimming his stake. Read More.
  • Negative Sentiment: EVP Guy M. Oliphint sold 172,904 shares on Jan. 6 at an average ~$13.63 (~$2.36M), reducing his ownership by ~21.9%. Read More.

Hedge Funds Weigh In On Permian Resources

A number of hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB grew its position in shares of Permian Resources by 70.1% during the 2nd quarter. Nordea Investment Management AB now owns 490,311 shares of the company’s stock valued at $6,727,000 after acquiring an additional 202,026 shares during the period. Friedenthal Financial purchased a new position in Permian Resources in the second quarter valued at approximately $871,000. American Century Companies Inc. grew its holdings in Permian Resources by 20.3% during the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock valued at $150,409,000 after purchasing an additional 1,863,632 shares during the period. Cresset Asset Management LLC increased its position in Permian Resources by 599.2% in the second quarter. Cresset Asset Management LLC now owns 174,508 shares of the company’s stock worth $2,377,000 after buying an additional 149,548 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Permian Resources by 5.9% in the second quarter. Advisors Asset Management Inc. now owns 325,956 shares of the company’s stock worth $4,440,000 after buying an additional 18,081 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

About Permian Resources

(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.

See Also