Insider Selling: Permian Resources Co. (NASDAQ:PR) Director Sells 14,320,070 Shares of Stock

Permian Resources Co. (NASDAQ:PRGet Rating) Director Silver Run Sponsor, Llc sold 14,320,070 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $10.70, for a total transaction of $153,224,749.00. Following the sale, the director now directly owns 58,227,600 shares of the company’s stock, valued at approximately $623,035,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Permian Resources Price Performance

Shares of PR stock opened at $10.34 on Wednesday. The company has a fifty day moving average price of $10.29. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $5.78 billion, a PE ratio of 6.42 and a beta of 4.54. Permian Resources Co. has a one year low of $5.08 and a one year high of $12.05.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, March 7th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, March 6th. Permian Resources’s dividend payout ratio is presently 12.42%.

Institutional Trading of Permian Resources

A number of hedge funds have recently modified their holdings of PR. Riverstone Holdings LLC acquired a new stake in shares of Permian Resources during the 3rd quarter worth about $468,238,000. Vanguard Group Inc. acquired a new stake in Permian Resources in the 3rd quarter worth about $112,804,000. State Street Corp acquired a new stake in Permian Resources in the 3rd quarter worth about $100,979,000. Dimensional Fund Advisors LP acquired a new stake in Permian Resources in the 3rd quarter worth about $89,649,000. Finally, River Road Asset Management LLC acquired a new stake in Permian Resources in the 3rd quarter worth about $55,897,000. Institutional investors and hedge funds own 88.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PR shares. Citigroup increased their price objective on shares of Permian Resources from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, March 1st. TD Cowen raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 1st. TD Cowen raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 1st. Susquehanna raised their target price on shares of Permian Resources from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. Finally, Mizuho raised their target price on shares of Permian Resources from $12.00 to $13.00 in a research report on Friday, March 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

About Permian Resources

(Get Rating)

Permian Resources Corp. operates as an oil and natural gas company. It focuses on the development of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The company was founded on October 6, 2014 and is headquartered in Denver, CO.

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Insider Buying and Selling by Quarter for Permian Resources (NASDAQ:PR)

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