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Brookstone Capital Management Acquires New Holdings in Permian Resources Corporation (NYSE:PR)

Permian Resources logo with Energy background

Brookstone Capital Management purchased a new stake in Permian Resources Corporation (NYSE:PR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 125,855 shares of the company's stock, valued at approximately $1,743,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new stake in Permian Resources during the 1st quarter worth $30,000. Rakuten Securities Inc. increased its stake 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 buying an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC acquired a new stake in Permian Resources in the 4th quarter valued at $41,000. Lindbrook Capital LLC increased its stake 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 buying an additional 2,155 shares during the last quarter. Finally, Tsfg LLC acquired a new stake in Permian Resources in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PR shares. Raymond James Financial reiterated a "strong-buy" rating and issued a $23.00 price target (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective 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. Bank of America boosted their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Read Our Latest Report on PR

Permian Resources Price Performance

Shares of Permian Resources stock traded down $0.28 on Monday, reaching $13.78. 7,623,157 shares of the stock were exchanged, compared to its average volume of 9,723,270. The firm's 50 day moving average is $13.40 and its 200-day moving average is $13.60. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $11.07 billion, a PE ratio of 8.51 and a beta of 1.25.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. Permian Resources's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. As a group, analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Monday, June 16th. Permian Resources's payout ratio is 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.

See Also

Institutional Ownership by Quarter for Permian Resources (NYSE:PR)

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