Callan Family Office LLC Makes New Investment in Permian Resources Corporation $PR

Callan Family Office LLC bought a new position in shares of Permian Resources Corporation (NYSE:PR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,636 shares of the company's stock, valued at approximately $295,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. UMB Bank n.a. raised its holdings in shares of Permian Resources by 12.6% in the 2nd quarter. UMB Bank n.a. now owns 6,953 shares of the company's stock valued at $95,000 after purchasing an additional 778 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Permian Resources by 30.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock valued at $54,000 after purchasing an additional 921 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of Permian Resources by 5.1% in the 1st quarter. HighPoint Advisor Group LLC now owns 20,404 shares of the company's stock valued at $283,000 after purchasing an additional 986 shares during the period. Vident Advisory LLC raised its holdings in shares of Permian Resources by 9.9% in the 1st quarter. Vident Advisory LLC now owns 11,321 shares of the company's stock valued at $157,000 after purchasing an additional 1,019 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Permian Resources by 1.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 64,181 shares of the company's stock valued at $889,000 after purchasing an additional 1,106 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Insider Buying and Selling

In other news, EVP Robert Regan Shannon sold 4,742 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total transaction of $67,431.24. Following the completion of the transaction, the executive vice president owned 91,805 shares of the company's stock, valued at approximately $1,305,467.10. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,743 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total transaction of $67,398.03. Following the sale, the executive vice president owned 107,569 shares of the company's stock, valued at approximately $1,528,555.49. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.44% of the company's stock.

Permian Resources Stock Performance

Shares of NYSE:PR opened at $12.07 on Friday. The company's 50 day moving average price is $13.38 and its two-hundred day moving average price is $13.21. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.33. The firm has a market cap of $9.66 billion, a PE ratio of 7.84 and a beta of 1.32. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.34.

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

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.15 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 5.0%. Permian Resources's dividend payout ratio (DPR) is currently 38.96%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Scotiabank assumed coverage on shares of Permian Resources in a research note on Friday, September 19th. They issued a "sector outperform" rating and a $21.00 price target on the stock. Susquehanna upped their price target on shares of Permian Resources from $19.00 to $20.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. TD Cowen upgraded shares of Permian Resources to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Raymond James Financial decreased their price target on shares of Permian Resources from $23.00 to $22.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Permian Resources currently has an average rating of "Buy" and an average target price of $19.00.

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.

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