37,232 Shares in Permian Resources Corporation (NYSE:PR) Purchased by Burns Matteson Capital Management LLC

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

A number of other hedge funds have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC boosted its holdings in Permian Resources by 19.2% during the first quarter. OneDigital Investment Advisors LLC now owns 19,274 shares of the company's stock worth $267,000 after purchasing an additional 3,107 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Permian Resources by 12.4% during the first quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company's stock worth $444,000 after purchasing an additional 3,547 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Permian Resources by 8.5% in the first quarter. Crossmark Global Holdings Inc. now owns 28,385 shares of the company's stock valued at $393,000 after acquiring an additional 2,215 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Permian Resources by 27.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company's stock valued at $425,000 after acquiring an additional 6,600 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Permian Resources during the 1st quarter worth approximately $174,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Performance

Shares of PR traded down $0.10 during mid-day trading on Friday, hitting $13.45. 12,601,111 shares of the company traded hands, compared to its average volume of 9,804,095. 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 50-day moving average price of $13.72 and a two-hundred day moving average price of $13.60. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $16.33. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 8.30 and a beta of 1.25.

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

Permian Resources Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. UBS Group upped their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $23.00 target price (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. TD Cowen raised shares of Permian Resources to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Permian Resources presently has an average rating of "Buy" and a consensus price target of $18.40.

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.