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MIDLAND, Texas—John Charles Bell, Executive Vice President and General Counsel at Permian Resources Corp (NYSE:PR), a $10 billion market cap energy company currently trading near its 52-week low of $11.84, recently sold shares of the company’s Class A common stock. According to InvestingPro data, the stock has experienced significant volatility, dropping nearly 12% in the past week. According to a recent SEC filing, Bell sold 2,804 shares on March 3, 2025, at a weighted average price of $14.0276 per share, generating a total of approximately $39,333.
This transaction was part of a mandatory "sell to cover" arrangement to address tax withholding obligations related to the vesting of a restricted stock award. Following the sale, Bell retains ownership of 74,433 shares of Permian Resources stock. The shares were sold at prices ranging from $13.93 to $14.21, as per the filing.
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 the earnings miss, the company reported record free cash flow per share and maintained a strong liquidity position with $3 billion, including $500 million in cash. In addition, the company plans to drill approximately 285 wells in 2025, with oil production guidance indicating an 8% growth from 2024 levels.
In other developments, 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, improvements in capital efficiency, and a valuation discount compared to its peers. Meanwhile, Citi analysts adjusted their price target for Permian Resources to $17.00 from $18.00 while maintaining a Buy rating. The adjustment followed the company’s fourth-quarter earnings, which exceeded both consensus and Citi’s estimates for adjusted cash flow.
Citi noted that Permian Resources’ production numbers surpassed expectations, and the company managed expenses effectively, despite the volatile commodity market conditions. The potential for mergers and acquisitions was highlighted as a factor supporting the Buy rating. These recent developments reflect Permian Resources’ ongoing efforts to navigate a challenging market environment while focusing on operational efficiencies and strategic growth.
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