BI Asset Management Fondsmaeglerselskab A S Has $153,000 Position in Permian Resources Corporation $PR

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its position in Permian Resources Corporation by 91.6%, now holding only 11,034 shares valued at $153,000.
• Several institutional investors increased their stakes in Permian Resources, with Tower Research Capital LLC TRC boosting its holdings by 160.4% and now owning 42,091 shares valued at $605,000.
• Permian Resources announced a quarterly dividend of $0.15, yielding 4.4% annually, with the dividend payout ratio at 38.96%.

BI Asset Management Fondsmaeglerselskab A S decreased its position in Permian Resources Corporation (NYSE:PR - Free Report) by 91.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,034 shares of the company's stock after selling 119,771 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Permian Resources were worth $153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company's stock valued at $29,000 after buying an additional 1,635 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Permian Resources during the first quarter worth $30,000. Keystone Global Partners LLC bought a new stake in Permian Resources in the first quarter valued at $36,000. Brooklyn Investment Group lifted its stake in Permian Resources by 433.9% in the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company's stock valued at $43,000 after buying an additional 2,534 shares during the last quarter. Finally, Tsfg LLC bought a new stake in Permian Resources in the first quarter valued at $46,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

Shares of PR traded up $0.32 on Thursday, reaching $14.47. 6,939,333 shares of the stock traded hands, compared to its average volume of 10,111,790. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 9.39 and a beta of 1.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.63. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33. The stock's 50-day moving average price is $13.77 and its 200-day moving average price is $13.32.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.23 billion. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.Permian Resources's quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. Equities analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 annualized dividend and a yield of 4.1%. Permian Resources's payout ratio is currently 38.96%.

Analyst Ratings Changes

A number of research analysts have recently commented on PR shares. Susquehanna raised their price target on Permian Resources from $19.00 to $20.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Raymond James Financial reissued a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. TD Cowen raised Permian Resources to a "strong-buy" rating in a research note on Monday, July 7th. Piper Sandler raised their price objective on Permian Resources from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price target on Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Permian Resources presently has a consensus rating of "Buy" and a consensus price target of $18.53.

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.