Manning & Napier Advisors LLC Has $743,000 Position in Permian Resources Corporation (NYSE:PR)

Manning & Napier Advisors LLC trimmed its position in Permian Resources Corporation (NYSE:PR - Free Report) by 56.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,634 shares of the company's stock after selling 68,936 shares during the quarter. Manning & Napier Advisors LLC's holdings in Permian Resources were worth $743,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PR. Charles Schwab Investment Management Inc. raised its position in shares of Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock valued at $62,407,000 after buying an additional 176,320 shares in the last quarter. Channing Capital Management LLC increased its stake in Permian Resources by 286.1% during the 4th quarter. Channing Capital Management LLC now owns 620,138 shares of the company's stock worth $8,918,000 after acquiring an additional 459,516 shares during the period. M&T Bank Corp raised its holdings in Permian Resources by 60.9% in the 4th quarter. M&T Bank Corp now owns 53,742 shares of the company's stock valued at $773,000 after acquiring an additional 20,340 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Permian Resources by 93.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,634 shares of the company's stock valued at $51,000 after acquiring an additional 1,751 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of Permian Resources by 36.7% during the 4th quarter. Jones Financial Companies Lllp now owns 29,631 shares of the company's stock valued at $426,000 after acquiring an additional 7,958 shares during the period. Institutional investors own 91.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PR. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. UBS Group upped their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. Finally, Morgan Stanley lowered their price objective on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources has an average rating of "Moderate Buy" and an average price target of $18.50.

Permian Resources Price Performance

Shares of PR traded down $0.18 during trading hours on Friday, reaching $13.75. The stock had a trading volume of 23,113,785 shares, compared to its average volume of 10,001,084. 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 12 month low of $10.01 and a 12 month high of $16.95. The stock has a market capitalization of $11.04 billion, a PE ratio of 8.48 and a beta of 1.24. The company's 50-day moving average is $13.16 and its two-hundred day moving average is $13.63.

Permian Resources (NYSE:PR - Get Free Report) last posted 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 firm had revenue of $1.38 billion during 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%. Permian Resources'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 earnings per share. Research analysts expect that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's payout ratio is 37.04%.

About Permian Resources

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.