Permian Resources Corporation (NYSE:PR) Holdings Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,301,501 shares of the company's stock after selling 1,141,420 shares during the period. Massachusetts Financial Services Co. MA owned about 2.15% of Permian Resources worth $239,626,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company's stock worth $29,000 after purchasing an additional 1,635 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Permian Resources during the 1st quarter worth approximately $30,000. RE Dickinson Investment Advisors LLC acquired a new position in Permian Resources during the 4th quarter worth approximately $41,000. Tsfg LLC acquired a new position in Permian Resources during the 1st quarter worth approximately $46,000. Finally, Hexagon Capital Partners LLC increased its position in Permian Resources by 30.8% during 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. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Price Performance

PR stock traded up $0.42 on Thursday, reaching $13.52. The company had a trading volume of 7,814,563 shares, compared to its average volume of 9,768,844. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $16.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. The company's fifty day moving average is $13.70 and its 200 day moving average is $13.61. The company has a market cap of $10.86 billion, a P/E ratio of 8.35 and a beta of 1.25.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the business posted $0.25 earnings per share. The company's quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.15 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.44%. Permian Resources's dividend payout ratio is currently 37.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PR shares. Susquehanna dropped their target price on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada upped their price target on Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Piper Sandler upped their price target on Permian Resources from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company lowered their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Permian Resources currently has a consensus rating of "Moderate Buy" and an average price target of $18.40.

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.