Permian Resources Co. (PR) To Go Ex-Dividend on March 17th

Permian Resources Co. (NYSE:PR) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.15 per share on Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, March 17th.

Permian Resources has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Permian Resources to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 36.8%.

Permian Resources Price Performance

PR stock opened at $13.97 on Thursday. The firm’s 50-day moving average price is $14.68 and its two-hundred day moving average price is $14.47. Permian Resources has a 12-month low of $12.62 and a 12-month high of $18.28. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 4.05 and a beta of 4.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial boosted their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.13.

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.80% of the company’s stock.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.