Director Sells Over $10 Million in Permian Resources Stock Near 52-Week Highs
Summary
Director William J. Quinn sold 512,429 shares of Permian Resources Corp. common stock for a total value of $10,038,484.11.
Key Events
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Director Sells Shares
William J. Quinn, a Director of Permian Resources Corp., disposed of 512,429 shares of Class A Common Stock in an open market transaction.
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Significant Transaction Value
The shares were sold for a total value of $10,038,484.11 at a weighted average price of $19.59 per share on March 18, 2026.
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Context of Sale
This sale occurs while the company's stock is trading near its 52-week high and follows a trend of insider selling, including a $16.5 million sale by the Co-CEO earlier in March.
Analysis
Director William J. Quinn's sale of over $10 million in company stock is a significant transaction, especially as the stock trades near its 52-week high. This sale contributes to a broader pattern of insider distribution observed over the past 90 days, including a substantial sale by the Co-CEO earlier this month. While not from a top executive, a director selling such a large amount can signal a lack of conviction at current price levels or a desire to lock in gains, potentially adding to negative sentiment.
At the time of this filing, PR was trading at $20.20 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $16.7B. The 52-week trading range was $10.01 to $20.18. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.