Insider Selling: Permian Resources (NYSE:PR) EVP Sells 6,412 Shares of Stock

by · The Markets Daily

Permian Resources Corporation (NYSE:PR – Get Free Report) EVP Guy Oliphint sold 6,412 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $18.68, for a total value of $119,776.16. Following the completion of the transaction, the executive vice president owned 610,271 shares of the company’s stock, valued at $11,399,862.28. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Permian Resources Stock Up 1.7%

Permian Resources stock traded up $0.32 during trading hours on Thursday, hitting $18.85. 13,122,291 shares of the stock traded hands, compared to its average volume of 12,453,093. Permian Resources Corporation has a one year low of $10.01 and a one year high of $19.38. The company has a market cap of $15.63 billion, a PE ratio of 15.08 and a beta of 0.66. The firm’s 50-day moving average price is $15.89 and its two-hundred day moving average price is $14.34. 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:PR – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) 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 analyst estimates of $1.32 billion. During the same period last year, the business earned $0.36 EPS. Permian Resources’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, research analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio is presently 48.00%.

Institutional Trading of Permian Resources

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of Permian Resources by 115.5% in the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after acquiring an additional 13,483,136 shares during the period. Boston Partners purchased a new position in Permian Resources in the second quarter valued at about $134,119,000. Vanguard Group Inc. grew its stake in Permian Resources by 10.4% in the third quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after purchasing an additional 6,705,644 shares during the last quarter. Millennium Management LLC raised its holdings in Permian Resources by 210.6% in the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after purchasing an additional 6,678,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Permian Resources by 20.9% during the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock valued at $346,919,000 after buying an additional 4,691,280 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

More Permian Resources News

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

  • Positive Sentiment: Piper Sandler raised its price target to $24 and reiterated an Overweight rating, implying roughly a 27% upside from current levels — a strong bullish signal that likely helped lift the stock. Piper Sandler PT raise
  • Positive Sentiment: UBS raised its price target to $23 and set a Buy rating (about a 22% implied upside), adding further analyst backing that supports higher investor demand. UBS PT raise
  • Neutral Sentiment: Aggregated analyst commentary roundups (coverage summarized by Benzinga) provide broader context on expectations for Permian Resources but do not add a single directional surprise beyond the PT changes. Analyst roundup
  • Negative Sentiment: Multiple insiders disclosed sizable sales this week: William M. Hickey III sold 898,423 shares and James H. Walter sold 673,425 shares (each sale at ~ $18.38), plus several EVP-level sales (large percentage reductions for some VPs). These block sales could pressure sentiment or be interpreted as material insider liquidity. Insider filings (sample)
  • Negative Sentiment: Benchmark Co. downgraded PR from Buy to Hold, removing one source of buy-side conviction and tempering enthusiasm from some investors. Benchmark downgrade

Analyst Ratings Changes

PR has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on Permian Resources from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Benchmark cut shares of Permian Resources from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Sandler upped their target price on shares of Permian Resources from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday. Susquehanna cut their price target on Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a report on Monday, January 26th. Finally, Bank of America restated a “neutral” rating and issued a $16.00 target price (down from $17.00) on shares of Permian Resources in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.58.

Get Our Latest Stock 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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