Allspring Global Investments Holdings LLC Has $7.77 Million Holdings in Permian Resources Corporation (NYSE:PR)

Allspring Global Investments Holdings LLC reduced its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 562,897 shares of the company's stock after selling 66,947 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Permian Resources worth $7,768,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PR. Rakuten Securities Inc. boosted its holdings in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares during the period. RE Dickinson Investment Advisors LLC bought a new stake in Permian Resources in the 4th quarter valued at $41,000. Lindbrook Capital LLC boosted its holdings in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Permian Resources by 93.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,634 shares of the company's stock valued at $51,000 after purchasing an additional 1,751 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Permian Resources by 37.2% in the 1st quarter. UMB Bank n.a. now owns 6,175 shares of the company's stock valued at $86,000 after purchasing an additional 1,675 shares during the period. 91.84% of the stock is owned by institutional investors.

Permian Resources Price Performance

Shares of Permian Resources stock traded up $0.65 during mid-day trading on Tuesday, reaching $14.42. 11,579,186 shares of the stock were exchanged, compared to its average volume of 9,740,035. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 8.90 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $13.47 and a 200 day simple moving average of $13.61. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. On average, sell-side analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.16%. The ex-dividend date was Monday, June 16th. Permian Resources's payout ratio is presently 37.04%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PR shares. UBS Group increased their price target on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a report on Monday, May 12th. Piper Sandler reduced their price target on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. TD Cowen raised shares of Permian Resources to a "strong-buy" rating in a report on Monday. The Goldman Sachs Group raised their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Susquehanna reduced their price objective on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Permian Resources Company 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.