NBC Securities Inc. Purchases 53,034 Shares of Permian Resources Co. (NYSE:PR)

NBC Securities Inc. raised its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 100,064.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,087 shares of the company's stock after acquiring an additional 53,034 shares during the period. NBC Securities Inc.'s holdings in Permian Resources were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Permian Resources during the fourth quarter valued at approximately $431,676,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Permian Resources by 60.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after acquiring an additional 12,306,854 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Permian Resources by 55.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock valued at $169,864,000 after acquiring an additional 4,236,141 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Permian Resources in the fourth quarter worth $57,114,000. Finally, Invesco Ltd. lifted its position in Permian Resources by 56.1% during the 4th quarter. Invesco Ltd. now owns 7,920,750 shares of the company's stock valued at $113,900,000 after acquiring an additional 2,845,449 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Wall Street Analyst Weigh In

PR has been the subject of a number of analyst reports. Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Susquehanna reduced their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. The Goldman Sachs 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 research report on Friday, May 16th. Finally, Morgan Stanley dropped their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and an average price target of $18.56.

Permian Resources Trading Up 3.6%

NYSE PR traded up $0.47 during trading on Friday, hitting $13.58. The stock had a trading volume of 11,559,307 shares, compared to its average volume of 9,696,770. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 4.05 and a beta of 1.24. The stock has a 50 day simple moving average of $12.34 and a 200 day simple moving average of $13.74. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. Sell-side analysts predict that Permian Resources Co. will post 1.45 earnings per share 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 annualized dividend and a yield of 4.42%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is 37.04%.

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.