Curated Wealth Partners LLC Decreases Stock Position in Permian Resources Co. (NYSE:PR)

Curated Wealth Partners LLC lessened its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 26.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,854 shares of the company's stock after selling 25,000 shares during the period. Curated Wealth Partners LLC's holdings in Permian Resources were worth $967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PR. Principal Securities Inc. lifted its stake in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after buying an additional 1,232 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Permian Resources by 1,152.5% during the fourth 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 period. RE Dickinson Investment Advisors LLC purchased a new position in shares of Permian Resources during the fourth quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC lifted its stake in shares of Permian Resources by 294.8% during the fourth 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 period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analysts Set New Price Targets

PR has been the subject of several research analyst reports. Bank of America upped their price target on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. The Goldman Sachs Group upped their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. UBS Group upped their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Morgan Stanley dropped their price target on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Royal Bank of Canada upped their price target 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.56.

Permian Resources Stock Up 3.3%

Shares of PR stock traded up $0.48 on Friday, hitting $14.95. The stock had a trading volume of 15,819,070 shares, compared to its average volume of 9,801,680. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 4.05 and a beta of 1.24. The stock's 50 day moving average is $12.61 and its 200-day moving average is $13.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. As a group, research analysts expect that Permian Resources Co. will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.01%. Permian Resources's dividend payout ratio (DPR) 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.