Permian Resources Corporation (NYSE:PR) Shares Purchased by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,299,862 shares of the company's stock after buying an additional 1,040,766 shares during the quarter. GW&K Investment Management LLC owned approximately 0.54% of Permian Resources worth $59,553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new stake in shares of Permian Resources during the fourth quarter worth $207,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Permian Resources by 27.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 19,644 shares of the company's stock worth $282,000 after purchasing an additional 4,260 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Permian Resources by 80.4% in the fourth quarter. Corient Private Wealth LLC now owns 40,553 shares of the company's stock worth $583,000 after buying an additional 18,069 shares during the last quarter. Signaturefd LLC grew its holdings in Permian Resources by 61.2% during the fourth quarter. Signaturefd LLC now owns 7,194 shares of the company's stock valued at $103,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Permian Resources by 3.8% during the fourth quarter. Xponance Inc. now owns 86,264 shares of the company's stock valued at $1,240,000 after purchasing an additional 3,180 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Trading Down 0.7%

Shares of NYSE:PR opened at $13.45 on Monday. The company has a market cap of $10.81 billion, a P/E ratio of 8.30 and a beta of 1.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $16.33. The stock's fifty day moving average price is $13.72 and its 200-day moving average price is $13.59.

Permian Resources (NYSE:PR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The business'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 EPS. Sell-side analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.46%. Permian Resources's payout ratio is presently 37.04%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada increased their price target on Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their price objective on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Raymond James Financial reissued a "strong-buy" rating and set a $23.00 price objective (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. UBS Group increased their price objective on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a report on Monday, May 12th. 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 report on Thursday, March 27th. One analyst has rated the stock with a sell rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Permian Resources has a consensus rating of "Buy" and a consensus price target of $18.40.

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.

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