Permian Resources Corporation (NYSE:PR) Stock Position Decreased by Perpetual Ltd

Perpetual Ltd decreased its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,859,111 shares of the company's stock after selling 25,700 shares during the quarter. Perpetual Ltd owned approximately 0.23% of Permian Resources worth $25,749,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Principal Securities Inc. raised its stake in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares in the last quarter. Global Retirement Partners LLC raised its stake in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. raised its stake in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC acquired a new stake in Permian Resources during the fourth quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC raised its stake in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after buying an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analyst Weigh In

PR has been the topic of several research reports. Susquehanna cut their price objective on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Williams Trading set a $19.00 price objective on Permian Resources in a research note on Wednesday, March 5th. Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $23.00 target price (up from $20.00) on shares of Permian Resources in a report on Monday, May 19th. Finally, The Goldman Sachs Group upped their target price on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

Permian Resources Stock Performance

PR stock traded down $0.09 on Monday, reaching $13.65. The company's stock had a trading volume of 11,368,408 shares, compared to its average volume of 9,722,523. The firm has a fifty day moving average of $13.24 and a two-hundred day moving average of $13.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $10.97 billion, a P/E ratio of 8.43 and a beta of 1.24. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The firm had revenue of $1.38 billion for 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%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is presently 37.04%.

Permian Resources Company 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.