Permian Resources Corporation (NYSE:PR) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Permian Resources Corporation (NYSE:PR - Free Report) by 29.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 843,407 shares of the company's stock after purchasing an additional 193,699 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Permian Resources worth $11,681,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Permian Resources in the first quarter valued at approximately $30,000. RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources in the fourth quarter valued at $41,000. Tsfg LLC purchased a new stake in shares of Permian Resources in the first quarter valued at $46,000. Hexagon Capital Partners LLC lifted its position in Permian Resources by 30.8% during the first quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock worth $54,000 after buying an additional 921 shares during the period. Finally, UMB Bank n.a. lifted its position in Permian Resources by 37.2% during the first quarter. UMB Bank n.a. now owns 6,175 shares of the company's stock worth $86,000 after buying an additional 1,675 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Trading Down 0.7%

NYSE:PR traded down $0.10 during mid-day trading on Friday, hitting $13.45. The company had a trading volume of 12,601,111 shares, compared to its average volume of 9,816,358. The firm has a market cap of $10.81 billion, a P/E ratio of 8.30 and a beta of 1.25. 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 business's fifty day moving average is $13.72 and its two-hundred day moving average is $13.60. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.33.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The business's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. 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 firm also recently declared 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Monday, June 16th. Permian Resources's payout ratio is 37.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. The Goldman Sachs Group upped their price objective on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 16th. UBS Group increased their price target on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Susquehanna decreased their price objective on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Finally, TD Cowen raised Permian Resources to a "strong-buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price 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.