Permian Resources Corporation $PR Shares Purchased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in Permian Resources Corporation by 319.7% in Q1, now owning 124,368 shares valued at $1.72 million.
• Several brokerages have raised their price targets for Permian Resources, with an average target now at $18.47 and a consensus rating of "Buy."
• The company announced a quarterly dividend of $0.15, providing a 4.3% yield, with the payment date set for September 30th.

Jones Financial Companies Lllp boosted its holdings in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 319.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,368 shares of the company's stock after purchasing an additional 94,737 shares during the quarter. Jones Financial Companies Lllp's holdings in Permian Resources were worth $1,722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted 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 purchasing an additional 921 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Permian Resources by 5.1% in the first quarter. HighPoint Advisor Group LLC now owns 20,404 shares of the company's stock valued at $283,000 after acquiring an additional 986 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Permian Resources by 9.9% in the first quarter. Vident Advisory LLC now owns 11,321 shares of the company's stock valued at $157,000 after acquiring an additional 1,019 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Permian Resources by 1.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 64,181 shares of the company's stock valued at $889,000 after acquiring an additional 1,106 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Permian Resources by 18.1% in the first quarter. SBI Securities Co. Ltd. now owns 7,331 shares of the company's stock valued at $102,000 after acquiring an additional 1,122 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In related news, EVP John Charles Bell sold 4,743 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the sale, the executive vice president owned 107,569 shares in the company, valued at approximately $1,528,555.49. The trade was a 4.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Regan Shannon sold 4,742 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the sale, the executive vice president owned 91,805 shares in the company, valued at approximately $1,305,467.10. This trade represents a 4.91% decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PR shares. Royal Bank Of Canada restated an "outperform" rating and issued a $17.00 target price on shares of Permian Resources in a research report on Tuesday, September 2nd. Morgan Stanley lifted their price objective on Permian Resources from $17.00 to $18.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. William Blair assumed coverage on Permian Resources in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Bank of America lifted their price objective on Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen downgraded Permian Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $18.47.

Permian Resources Trading Down 3.3%

Shares of Permian Resources stock traded down $0.46 during trading hours on Monday, hitting $13.24. The company's stock had a trading volume of 41,229,302 shares, compared to its average volume of 10,216,414. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $16.33. The firm has a fifty day moving average of $13.78 and a 200-day moving average of $13.28. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 8.60 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.63.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The company's quarterly revenue was down 3.9% on a year-over-year basis. Research analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, September 16th. Permian Resources's payout ratio is currently 38.96%.

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.