Advisor Resource Council Buys New Position in Permian Resources Corporation (NYSE:PR)

Advisor Resource Council acquired a new stake in Permian Resources Corporation (NYSE:PR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57,847 shares of the company's stock, valued at approximately $770,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. raised its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after purchasing an additional 852 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. boosted its holdings in Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after acquiring an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC acquired a new stake in Permian Resources during the 4th quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC raised its holdings in Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after purchasing an additional 2,155 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Down 2.1%

Permian Resources stock traded down $0.30 during mid-day trading on Wednesday, reaching $13.71. The stock had a trading volume of 13,357,899 shares, compared to its average volume of 9,935,000. The firm has a market capitalization of $11.02 billion, a PE ratio of 9.22 and a beta of 1.24. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.95. The stock's 50-day simple moving average is $13.08 and its 200-day simple moving average is $13.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 11.96% and a net margin of 22.74%. Permian Resources's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PR. Wells Fargo & Company decreased 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. The Goldman Sachs Group upped their price target on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 16th. UBS Group increased their price target on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Morgan Stanley dropped their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Citigroup lowered 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 assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.50.

Permian Resources Profile

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.