HighTower Advisors LLC Has $3.64 Million Stock Holdings in Permian Resources Corporation $PR

Key Points

• HighTower Advisors LLC increased its Permian Resources stake by 55.2% in the fourth quarter, ending with 259,403 shares valued at about $3.64 million.
• Permian Resources insiders have been selling shares recently, including director William J. Quinn and CEO James H. Walter, with insiders selling a total of 3.19 million shares worth about $60.1 million over the last 90 days.
• The company recently reported quarterly EPS of $0.39, beating estimates by a penny, and declared a quarterly dividend of $0.16 per share, implying a 3.3% annualized yield.

HighTower Advisors LLC lifted its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,403 shares of the company's stock after buying an additional 92,309 shares during the period. HighTower Advisors LLC's holdings in Permian Resources were worth $3,639,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PR. EverSource Wealth Advisors LLC boosted its position in Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company's stock valued at $57,000 after purchasing an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Permian Resources during the fourth quarter valued at $60,000. Farther Finance Advisors LLC boosted its position in Permian Resources by 126.1% during the fourth quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company's stock valued at $62,000 after purchasing an additional 2,477 shares during the last quarter. Allworth Financial LP raised its holdings in Permian Resources by 18.7% during the third quarter. Allworth Financial LP now owns 6,445 shares of the company's stock valued at $82,000 after buying an additional 1,015 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Permian Resources during the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Insiders Place Their Bets

In other news, Director William J. Quinn sold 800,000 shares of Permian Resources stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $19.15, for a total value of $15,320,000.00. Following the transaction, the director directly owned 7,426,839 shares in the company, valued at approximately $142,223,966.85. The trade was a 9.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Walter sold 673,425 shares of Permian Resources stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $12,377,551.50. Following the completion of the transaction, the chief executive officer owned 9,389,405 shares in the company, valued at $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,192,835 shares of company stock valued at $60,120,653 in the last ninety days. Company insiders own 5.00% of the company's stock.

Permian Resources Trading Down 0.5%

Permian Resources stock opened at $19.22 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The business's 50-day simple moving average is $20.55 and its 200-day simple moving average is $17.32. The firm has a market capitalization of $16.09 billion, a PE ratio of 22.35 and a beta of 0.52. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Equities research analysts forecast that Permian Resources Corporation will post 2 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Permian Resources's payout ratio is presently 74.42%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PR shares. Benchmark lowered Permian Resources from a "buy" rating to a "hold" rating in a report on Thursday, March 5th. UBS Group raised their target price on Permian Resources from $19.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Roth Mkm restated a "neutral" rating and set a $22.00 target price (up from $20.00) on shares of Permian Resources in a report on Wednesday, April 8th. Morgan Stanley restated an "overweight" rating on shares of Permian Resources in a report on Friday, March 27th. Finally, BMO Capital Markets upgraded Permian Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.69.

Permian Resources Profile

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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