Aptus Capital Advisors LLC raised its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 320.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,287 shares of the company's stock after buying an additional 59,653 shares during the period. Aptus Capital Advisors LLC's holdings in Permian Resources were worth $1,126,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of PR. Wilmington Savings Fund Society FSB bought a new stake in Permian Resources during the 3rd quarter valued at approximately $57,000. Franklin Resources Inc. lifted its holdings in shares of Permian Resources by 54.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company's stock valued at $19,351,000 after buying an additional 482,405 shares during the period. Principal Financial Group Inc. raised its position in Permian Resources by 35.3% in the third quarter. Principal Financial Group Inc. now owns 3,984,490 shares of the company's stock worth $54,235,000 after acquiring an additional 1,038,489 shares during the period. GAMMA Investing LLC increased its stake in shares of Permian Resources by 57.9% in the 4th quarter. GAMMA Investing LLC now owns 6,406 shares of the company's stock worth $92,000 after purchasing an additional 2,348 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Permian Resources by 1.5% in the 4th quarter. Nordea Investment Management AB now owns 278,054 shares of the company's stock worth $4,007,000 after purchasing an additional 4,115 shares during the period. 91.84% of the stock is owned by institutional investors.
Insider Activity at Permian Resources
In related news, EVP John Charles Bell sold 2,804 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares of the company's stock, valued at $1,044,294.99. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 in the last quarter. 6.44% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on PR shares. Williams Trading set a $19.00 price objective on Permian Resources in a research note on Wednesday, March 5th. Morgan Stanley reduced their price objective on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their target price on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Piper Sandler decreased their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Finally, Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.
Check Out Our Latest Analysis on PR
Permian Resources Trading Up 4.4%
Shares of NYSE PR traded up $0.57 during trading hours on Monday, hitting $13.58. 2,599,466 shares of the company traded hands, compared to its average volume of 9,876,377. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company's 50 day moving average price is $12.47 and its 200 day moving average price is $13.91. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $16.95.
Permian Resources (NYSE:PR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. Permian Resources's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, equities research analysts anticipate that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.
Permian Resources Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.
Permian Resources Profile
(
Free Report)
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.
Further Reading
Before you consider Permian Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Resources wasn't on the list.
While Permian Resources currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
