In a recent filing with the Securities and Exchange Commission, Quinn William J, a director at Permian Resources Corp (NYSE:PR), reported significant purchases of the company’s Class A Common Stock. On March 3, 2025, Quinn acquired 500,000 shares at a weighted average price of approximately $13.0732 per share. The following day, March 4, 2025, he purchased an additional 250,000 shares at a weighted average price of $12.3434 per share. The total value of these transactions amounted to $9,622,450.
Following these acquisitions, Quinn’s indirect ownership, through Mail Holdings, L.P., increased to 1,062,429 shares. The purchases were made within a price range of $12.3434 to $13.0732 per share. These transactions highlight Quinn’s continued investment in Permian Resources, a company engaged in crude petroleum and natural gas production. The company maintains a strong financial health score of "GREAT" on InvestingPro, with a P/E ratio of 8.05 and robust net income of $985 million in the last twelve months. For deeper insights and additional ProTips about Permian Resources, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Permian Resources Corp reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.29, which fell short of the forecasted $0.35. The company’s revenue also missed expectations, coming in at $1.3 billion against a forecast of $1.32 billion. Despite these misses, the company demonstrated strong operational performance, achieving record free cash flow per share and maintaining a strong liquidity position with $3 billion, including $500 million in cash. Additionally, Citi analysts revised their price target for Permian Resources, reducing it to $17.00 from $18.00, while maintaining a Buy rating, following the company’s impressive adjusted cash flow of approximately $904.1 million, which exceeded both consensus and Citi’s estimates.
Susquehanna analyst Biju Perincheril upgraded Permian Resources’ stock rating from Neutral to Positive, raising the price target from $17.00 to $20.00. This upgrade was attributed to the company’s successful scale build-up through mergers and acquisitions and significant improvements in capital efficiency. The analyst noted that Permian Resources is trading at a discount compared to its peers, which, combined with recent operational advancements, led to the positive reassessment. Permian Resources plans to drill approximately 285 wells in 2025, with oil production guidance indicating an 8% growth from 2024 levels.
The company’s strategic focus on the Permian Basin, with significant activity in the New Mexico Delaware and Texas Delaware Basins, continues to drive its operational success. Citi’s analysis also highlighted the potential for increased production due to improved drilling efficiency and longer laterals. Meanwhile, Permian Resources is maintaining a competitive edge with a focus on cost efficiency and strategic investments, as evidenced by its robust operational performance and market valuation.
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