Burns Matteson Capital Management LLC Acquires New Holdings in Permian Resources Corporation (NYSE:PR)

Burns Matteson Capital Management LLC bought a new position in shares of Permian Resources Corporation (NYSE:PR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,232 shares of the company's stock, valued at approximately $516,000.

Several other hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP grew its position in Permian Resources by 376.7% during the first quarter. Allworth Financial LP now owns 2,069 shares of the company's stock worth $29,000 after buying an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Permian Resources in the 1st quarter worth approximately $30,000. RE Dickinson Investment Advisors LLC purchased a new position in Permian Resources in the 4th quarter worth approximately $41,000. Tsfg LLC purchased a new position in Permian Resources during the 1st quarter valued at approximately $46,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Permian Resources by 30.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock valued at $54,000 after buying an additional 921 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Trading Down 0.7%

Shares of PR stock traded down $0.10 on Friday, hitting $13.45. 12,601,111 shares of the stock traded hands, compared to its average volume of 9,816,358. The firm's 50-day moving average price is $13.72 and its two-hundred day moving average price is $13.59. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $16.33. 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 stock has a market capitalization of $10.81 billion, a PE ratio of 8.30 and a beta of 1.25.

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

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.46%. Permian Resources's payout ratio is presently 37.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PR shares. Piper Sandler boosted their target price on shares of Permian Resources from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Susquehanna cut their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada increased their price target on Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, UBS Group upped their target price on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Permian Resources has a consensus rating of "Buy" and a consensus price target of $18.40.

About Permian Resources

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.