Advisor Resource Council bought a new stake in Permian Resources Corporation (NYSE:PR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,847 shares of the company's stock, valued at approximately $770,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. boosted its position in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after acquiring an additional 852 shares during the period. Sanctuary Advisors LLC boosted its holdings in Permian Resources by 4.0% in the 4th quarter. Sanctuary Advisors LLC now owns 49,310 shares of the company's stock valued at $742,000 after purchasing an additional 1,907 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Permian Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after buying an additional 805 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Permian Resources by 42.5% in the fourth quarter. D.A. Davidson & CO. now owns 14,262 shares of the company's stock valued at $205,000 after buying an additional 4,252 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of Permian Resources in the fourth quarter valued at approximately $149,000. 91.84% of the stock is owned by institutional investors.
Permian Resources Stock Up 0.4%
NYSE:PR traded up $0.06 during trading hours on Friday, hitting $14.75. 10,893,407 shares of the company traded hands, compared to its average volume of 9,871,393. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34. The firm's 50-day simple moving average is $12.96 and its 200-day simple moving average is $13.64. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.95. The company has a market cap of $11.85 billion, a PE ratio of 9.10 and a beta of 1.24.
Permian Resources (NYSE:PR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business earned $0.25 EPS. Permian Resources's quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current year.
Permian Resources Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is currently 37.04%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on PR shares. Bank of America upped their target price on Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wells Fargo & Company cut their price objective on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Susquehanna cut their price objective on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Williams Trading set a $19.00 price target on shares of Permian Resources in a report on Wednesday, March 5th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $18.50.
Check Out Our Latest Analysis on Permian Resources
Permian Resources Company 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.
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