Permian Resources Corporation (NYSE:PR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 609,784 shares of the company's stock after selling 26,991 shares during the period. Cerity Partners LLC owned 0.08% of Permian Resources worth $8,446,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PR. Allworth Financial LP raised its holdings in shares of Permian Resources by 376.7% in the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company's stock valued at $29,000 after purchasing an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Permian Resources in the 1st quarter valued at about $30,000. RE Dickinson Investment Advisors LLC bought a new stake in shares of Permian Resources in the 4th quarter valued at about $41,000. Tsfg LLC bought a new stake in shares of Permian Resources in the 1st quarter valued at about $46,000. Finally, 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 in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Susquehanna dropped their target price on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial reissued a "strong-buy" rating and set a $23.00 target price (up previously from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. Royal Bank Of Canada boosted their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Morgan Stanley dropped their target price on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, TD Cowen raised shares of Permian Resources to a "strong-buy" rating in a research report on Monday, July 7th. One 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $18.40.

Permian Resources Trading Down 0.7%

Permian Resources stock traded down $0.10 during midday trading on Friday, hitting $13.45. 12,601,111 shares of the stock were exchanged, compared to its average volume of 9,804,095. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.33. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 8.30 and a beta of 1.25. The stock's 50-day simple moving average is $13.72 and its 200 day simple moving average is $13.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34.

Permian Resources (NYSE:PR - Get Free Report) last posted 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). 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 during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the business posted $0.25 EPS. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

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