Manning & Napier Advisors LLC purchased a new stake in Permian Resources Corporation (NYSE:PR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,864 shares of the company's stock, valued at approximately $1,992,000.
Other large investors have also added to or reduced their stakes in the company. SHP Wealth Management bought a new stake in Permian Resources during the fourth quarter worth about $27,000. SJS Investment Consulting Inc. increased its holdings in Permian Resources by 1,862.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company's stock valued at $30,000 after buying an additional 1,341 shares during the period. Los Angeles Capital Management LLC bought a new position in Permian Resources in the 4th quarter valued at about $39,000. State of Wyoming raised its position in shares of Permian Resources by 126.8% in the 4th quarter. State of Wyoming now owns 2,933 shares of the company's stock valued at $41,000 after buying an additional 1,640 shares in the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new position in shares of Permian Resources in the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 91.84% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on PR shares. Evercore assumed coverage on shares of Permian Resources in a research report on Tuesday, June 23rd. They set an "outperform" rating and a $25.00 price target on the stock. Morgan Stanley restated an "overweight" rating on shares of Permian Resources in a research report on Wednesday, August 19th. Zacks Research cut Permian Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 22nd. Raymond James Financial cut their target price on Permian Resources from $29.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Wednesday, June 17th. Finally, Citigroup reduced their target price on Permian Resources from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.47.
Check Out Our Latest Report on Permian Resources
Permian Resources Trading Down 1.6%
Shares of NYSE PR opened at $23.32 on Wednesday. The stock has a market cap of $19.53 billion, a P/E ratio of 15.44 and a beta of 0.48. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $24.09. The firm has a 50 day moving average price of $20.26 and a two-hundred day moving average price of $19.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.62 and a current ratio of 0.62.
Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.66 billion. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The company's revenue was up 55.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. As a group, equities analysts forecast that Permian Resources Corporation will post 2.2 EPS for the current year.
Permian Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources's dividend payout ratio is 42.38%.
Permian Resources Profile
(
Free Report)
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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