Permian Resources Co. (NASDAQ:PR – Get 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
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
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.
- Get a free copy of the StockNews.com research report on Permian Resources (PR)
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