John Charles Bell Sells 70,249 Shares of Permian Resources (NYSE:PR) Stock

Permian Resources Corporation (NYSE:PR) EVP John Charles Bell sold 70,249 shares of Permian Resources stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $13.76, for a total transaction of $966,626.24. Following the completion of the transaction, the executive vice president directly owned 482,841 shares of the company’s stock, valued at $6,643,892.16. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

John Charles Bell also recently made the following trade(s):

• On Tuesday, January 6th, John Charles Bell sold 106,399 shares of Permian Resources stock. The stock was sold at an average price of $13.63, for a total transaction of $1,450,218.37.

Permian Resources Stock Performance

NYSE PR traded down $0.13 during trading hours on Wednesday, reaching $13.50. The company’s stock had a trading volume of 9,662,991 shares, compared to its average volume of 7,864,542. 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 business has a 50-day simple moving average of $13.90 and a 200 day simple moving average of $13.61. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.03. The stock has a market cap of $11.19 billion, a PE ratio of 12.38 and a beta of 0.66.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The company 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%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities research analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business 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 of this dividend 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%.

Key Headlines 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.

Analyst Ratings Changes

Several equities analysts have recently commented on PR shares. Mizuho upped their price target on shares of Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 29th. UBS Group upped their target price on shares of Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.07.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in Permian Resources by 114.1% during the third quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock worth $25,000 after purchasing an additional 1,047 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Permian Resources by 154.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after purchasing an additional 1,391 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Permian Resources during the 2nd quarter valued at $36,000. Parkside Financial Bank & Trust raised its stake in shares of Permian Resources by 90.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after buying an additional 1,357 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Permian Resources by 204.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock worth $52,000 after buying an additional 2,568 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.