PR Stock: Insider Activity, Filings & Research

Permian Resources Corporation (PR) — Drillr’s hub for PR insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, PR insiders filed 0 open-market buys and 6 sales (SEC Form 4).

Sentiment

0/100

Buys (3m)

Sells (3m)

Net (3m)

-$27.9M

Insider trades by month Buys Sells

Jan

Mar

Sep

Jan

Mar

May

Context3-month price +8.9%Institutions accumulating (13F)

Date	Insider	Type	Shares	Price
May 21, 2026	Tichio Robert M.director	Grant	14,778	—
May 21, 2026	Marquez Arondirector	Grant	14,045	—
May 21, 2026	Oliphint Guy Mofficer: EVP, Chief Financial Officer	Sell	62,769	$20.44
May 21, 2026	Eves Karan Edirector	Grant	14,045	—
May 21, 2026	Tepper Jeffreydirector	Grant	15,144	—
May 21, 2026	GRAY STEVEN Ddirector	Grant	22,350	—
May 21, 2026	Baldwin Maire A.director	Grant	15,022	—
Mar 19, 2026	Marquez Arondirector	Sell	5,250	$19.57
Mar 19, 2026	Quinn William Jdirector	Sell	512,429	$19.59
Mar 19, 2026	Marquez Arondirector	Sell	7,750	$19.62
Mar 16, 2026	Tepper Jeffreydirector	Sell	50,000	$19.38
Mar 12, 2026	Quinn William Jdirector	Sell	800,000	$19.15
Mar 5, 2026	Oliphint Guy Mofficer: EVP, Chief Financial Officer	Sell	6,412	$18.68
Mar 5, 2026	Hickey William M IIIdirector, officer: Co-Chief Executive Officer	Sell	898,423	$18.38
Mar 5, 2026	Shannon Robert Reganofficer: EVP, Chief Accounting Officer	Sell	3,865	$18.71

Source: PR SEC Form 4 filings, latest May 21, 2026. For informational purposes only — not investment advice.

Overview

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas exploration and production company founded in 2015 and headquartered in Midland, Texas. Originally incorporated as Centennial Resource Development, Inc., the company rebranded to its current name in September 2022. The company went public in April 2016 and has since grown through strategic acquisitions and operational improvements to become a significant player in the Permian Basin, one of America's most prolific oil-producing regions. Permian Resources focuses exclusively on developing crude oil and natural gas liquids reserves in the Delaware Basin, a sub-basin of the larger Permian Basin spanning West Texas and southeastern New Mexico.

Business

Permian Resources operates in the upstream oil and gas industry, specifically focusing on exploration, development, and production of crude oil and natural gas. The company's core business involves extracting hydrocarbons from underground reservoirs using advanced drilling and completion techniques. The company's primary operations are concentrated in the Delaware Basin, which is a geological sub-basin within the larger Permian Basin. The Permian Basin is a sedimentary basin that has been one of the most active oil and gas drilling regions in the United States due to its favorable geology and the presence of multiple productive rock formations, particularly shale formations that can be accessed through horizontal drilling and hydraulic fracturing (fracking). Permian Resources' asset base consists of approximately 73,675 net leased acres and 991 net mineral acres, primarily located in Reeves County, West Texas, and Lea County, New Mexico. The company targets multiple geological formations including the Wolfcamp and Bone Springs formations, which are known for their oil-rich characteristics. These formations contain what the industry calls "unconventional resources" - oil and gas trapped in low-permeability rock that requires horizontal drilling and hydraulic fracturing to extract economically. The company's production portfolio is heavily weighted toward crude oil, which typically commands higher prices than natural gas. As of recent quarters, Permian Resources produces approximately 175,000 barrels of oil per day and 373,000 barrels of oil equivalent per day (including natural gas and natural gas liquids converted to oil-equivalent terms). Oil represents roughly 47% of total production on an energy-equivalent basis, with the remainder consisting of natural gas and natural gas liquids like ethane, propane, and butane.

Revenue model

Permian Resources generates revenue primarily through the sale of crude oil, natural gas, and natural gas liquids to various purchasers including refineries, marketing companies, and pipeline operators. The company's business model is based on extracting hydrocarbons from owned or leased acreage and selling these commodities at prevailing market prices. The company's revenue is directly tied to three key factors: production volumes, commodity prices, and the mix of products sold. Oil typically generates the highest revenue per unit, followed by natural gas liquids, and then natural gas. With approximately 47% of production being crude oil, Permian Resources benefits significantly when oil prices are strong, as evidenced by recent quarterly revenues exceeding $1.3 billion. Several factors influence the company's profitability margins. Positive margin drivers include higher commodity prices (particularly oil prices above $70 per barrel where the company has hedging protection), operational efficiencies that reduce drilling and completion costs, successful well performance that exceeds initial production expectations, and economies of scale from larger operations. The company has demonstrated strong cost management, reducing drilling and completion costs by nearly 20% in recent years to approximately $750 per lateral foot. Negative margin pressures come from declining commodity prices, service cost inflation (particularly for drilling rigs, fracking services, and materials like steel and sand), regulatory changes that increase compliance costs, transportation bottlenecks that create price differentials, and the natural decline in production from existing wells that requires continuous drilling to maintain output levels. The company faces the inherent challenge of unconventional oil production where individual wells experience steep decline curves, typically losing 60-70% of their initial production rates within the first year. The company's customers include major oil refiners, midstream companies, and commodity trading firms who purchase the produced hydrocarbons either at the wellhead or at pipeline interconnection points. Payment terms are typically based on monthly settlements tied to published commodity price indices.

Competitive moat

Permian Resources operates in a relatively commoditized industry with limited traditional competitive moats, but the company has developed several competitive advantages that provide some protection against competition. The company's primary moat stems from its high-quality acreage position in the Delaware Basin, particularly in areas with proven geology and established infrastructure. Land position is crucial in the oil and gas industry because prime acreage in prolific basins cannot be easily replicated, and the company's 73,675 net acres provide a substantial drilling inventory. The company's operational expertise and cost efficiency represent another competitive advantage. Permian Resources has achieved some of the lowest drilling and completion costs in the Delaware Basin, with recent costs of $750 per lateral foot compared to industry averages that are typically higher. This cost advantage comes from focused operations in a single basin, allowing for economies of scale, optimized logistics, and accumulated technical expertise. The company's ability to drill wells in 13 days from spud to rig release and complete wells with 22 hours of pumping per day demonstrates operational excellence. However, the company's moat is moderate at best due to several factors. The oil and gas industry is highly competitive with numerous operators in the Permian Basin, and technological advances in drilling and completion techniques are widely available to competitors. While land position provides some protection, adjacent operators can achieve similar results from nearby acreage. The company's products are commodities sold at market prices, providing no pricing power. Primary competitive threats include larger integrated oil companies with superior financial resources, private equity-backed operators willing to accept lower returns, and potential disruption from renewable energy sources that could reduce long-term oil demand. Additionally, service cost inflation during industry upturns can quickly erode cost advantages, and regulatory changes regarding environmental standards or drilling restrictions could impact operations. The company's focus on a single basin, while providing operational advantages, also creates geographic concentration risk.

Risks & safety

Permian Resources demonstrates a solid financial position with improving credit metrics and strong cash generation capabilities, though typical industry cyclicality creates inherent risks. • Liquidity and Debt: Strong liquidity position with $702 million in cash and $3.2 billion total liquidity. Net debt-to-EBITDA ratio improved to 0.8x (down from 1.0x), indicating conservative leverage. Total debt-to-equity ratio of 0.44x is manageable for the industry. • Cash Flow: Robust cash generation with $898 million in operating cash flow and $460 million in adjusted free cash flow in Q1 2025. The company maintains positive free cash flow even in moderate commodity price environments. • Valuation Metrics: Trading at attractive multiples with P/E ratio of 6.7x, EV/EBITDA of 3.0x, and price-to-book of 0.95x. These metrics suggest the stock is reasonably valued relative to earnings and assets. • Hedging Protection: Approximately 25% of 2025 oil production is hedged above $73 per barrel, providing downside price protection. • Other Considerations: Commodity price volatility remains the primary risk factor. Current ratio of 0.86x indicates some working capital pressure, though this is typical for capital-intensive operations. The company's breakeven costs as low as $30 per barrel for new acquisitions provide cushion during price downturns.

Recent development

Over the past few years, Permian Resources has executed a strategic transformation focused on consolidating its position in the Delaware Basin while improving operational efficiency and financial flexibility. The company's most significant development was the $1.2 billion acquisition strategy in 2024, including the $817 million Barilla Draw acquisition from Occidental Petroleum, which added high-quality acreage in Eddy County and approximately 15,000 BOE per day of production. The company has achieved remarkable operational improvements, reducing drilling and completion costs by nearly 20% compared to 2023 levels, reaching $750 per lateral foot. Technical advances include achieving record drilling speeds of 1,500 feet per day and increasing completion efficiency to over 22 pumping hours per day. Water recycling initiatives have expanded to 50% of operations, with targets to reach 66-75% in the next two years, reducing environmental impact and operating costs. Financial strategy evolution has focused on strengthening the balance sheet while returning capital to shareholders. The company increased its base dividend by 150% to $0.60 annually and expanded share buyback authorization from $500 million to $1 billion. Leverage has been reduced from 1.0x to 0.8x net debt-to-EBITDA, with a target of reaching 0.5x by the end of 2025. Recent strategic moves include the $608 million New Mexico bolt-on acquisition announced in Q1 2025, adding 13,300 net acres and 8,700 net royalty acres with breakeven costs as low as $30 per barrel. The company is also exploring midstream opportunities, including potential equity stakes in natural gas pipeline projects and investigating power generation and data center opportunities to capture additional value from its natural gas production. Portfolio optimization continues with the company maintaining 90%+ capital allocation to the Delaware Basin while divesting non-core assets. Management has indicated focus on smaller bolt-on acquisitions that immediately compete for capital rather than large transformational deals.

PR company profile · for informational purposes only — not investment advice.

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