Homestead Advisers Corp Sells 33,700 Shares of Permian Resources Corporation (NYSE:PR)

Homestead Advisers Corp decreased its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 164,000 shares of the company's stock after selling 33,700 shares during the quarter. Homestead Advisers Corp's holdings in Permian Resources were worth $2,271,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Permian Resources by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after purchasing an additional 662 shares during the period. Hexagon Capital Partners LLC boosted its stake in Permian Resources by 30.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock worth $54,000 after purchasing an additional 921 shares during the period. HighPoint Advisor Group LLC boosted its stake in Permian Resources by 5.1% in the 1st quarter. HighPoint Advisor Group LLC now owns 20,404 shares of the company's stock worth $283,000 after purchasing an additional 986 shares during the period. Coldstream Capital Management Inc. boosted its stake in Permian Resources by 8.2% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,355 shares of the company's stock worth $192,000 after purchasing an additional 1,009 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its stake in Permian Resources by 1.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 64,181 shares of the company's stock worth $889,000 after purchasing an additional 1,106 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. The Goldman Sachs Group lifted their target price on shares of 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 lifted their target price on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Piper Sandler lifted their target price on shares of Permian Resources from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. 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. According to MarketBeat, Permian Resources currently has a consensus rating of "Buy" and an average price target of $18.47.

Permian Resources Stock Up 1.9%

Shares of Permian Resources stock traded up $0.26 during midday trading on Friday, reaching $13.88. 4,398,608 shares of the company's stock traded hands, compared to its average volume of 10,037,964. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 8.57 and a beta of 1.25. The company's 50 day simple moving average is $13.70 and its 200 day simple moving average is $13.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.33.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 22.74% and a return on equity of 11.96%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. Equities analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.32%. Permian Resources's dividend payout ratio (DPR) 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.