CWA Asset Management Group LLC Has $193,000 Holdings in Permian Resources Corporation (NYSE:PR)

CWA Asset Management Group LLC lessened its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 87.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,960 shares of the company's stock after selling 96,246 shares during the quarter. CWA Asset Management Group LLC's holdings in Permian Resources were worth $193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Securities Inc. increased its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after buying an additional 852 shares during the period. Global Retirement Partners LLC lifted its position in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. lifted its position in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after purchasing an additional 2,305 shares during the period. RE Dickinson Investment Advisors LLC acquired a new stake in Permian Resources during the fourth quarter worth about $41,000. Finally, Lindbrook Capital LLC increased its holdings in Permian Resources by 294.8% in the 4th 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. Institutional investors own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

PR has been the subject of several recent analyst reports. Bank of America upped their target price on Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wells Fargo & Company dropped their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $23.00 price objective (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. The Goldman Sachs Group lifted their target price on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.50.

Permian Resources Trading Up 1.6%

NYSE:PR traded up $0.22 during mid-day trading on Thursday, hitting $13.93. 12,862,726 shares of the company's stock were exchanged, compared to its average volume of 9,948,637. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $11.19 billion, a P/E ratio of 8.60 and a beta of 1.24. The company has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $13.63.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly 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 return on equity of 11.96% and a net margin of 22.74%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $0.25 EPS. Permian Resources's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect 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 will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.31%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is presently 37.04%.

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.