Permian Resources Corporation (NYSE:PR) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its position in Permian Resources Corporation (NYSE:PR - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,859,111 shares of the company's stock after selling 25,700 shares during the quarter. Perpetual Ltd owned about 0.23% of Permian Resources worth $25,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its stake in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after purchasing an additional 852 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. lifted its position in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC purchased a new position in Permian Resources during the fourth quarter worth approximately $41,000. Finally, Lindbrook Capital LLC boosted 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 worth $42,000 after buying an additional 2,155 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Stock Up 1.6%

Shares of NYSE PR opened at $13.93 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34. The business's 50 day moving average is $13.16 and its two-hundred day moving average is $13.63. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $16.95. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 8.60 and a beta of 1.24.

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

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.31%. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PR shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $23.00 target price (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. Wells Fargo & Company cut their price objective on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. JPMorgan Chase & Co. decreased their target price on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Bank of America increased their price target on shares of Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group raised 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. One 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.50.

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.

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