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

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.

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

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.