Permian Resources Corporation $PR Shares Bought by Americana Partners LLC

Key Points

• Americana Partners LLC boosted its stake in Permian Resources by 122.2% in the fourth quarter, ending with 91,378 shares valued at about $1.28 million.
• Permian Resources reported quarterly EPS of $0.39, slightly beating estimates, while revenue came in at $1.39 billion, just below expectations.
• The company declared a $0.16 quarterly dividend payable June 30, implying an annualized yield of about 3.1%; meanwhile, Wall Street analysts maintain a Buy consensus with an average price target of $22.38.

Americana Partners LLC raised its position in Permian Resources Corporation (NYSE:PR - Free Report) by 122.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,378 shares of the company's stock after acquiring an additional 50,257 shares during the quarter. Americana Partners LLC's holdings in Permian Resources were worth $1,282,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ruffer LLP acquired a new stake in Permian Resources in the third quarter valued at approximately $2,608,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in Permian Resources by 24.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,263,570 shares of the company's stock valued at $169,774,000 after acquiring an additional 2,628,744 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Permian Resources by 101.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 540,618 shares of the company's stock valued at $6,920,000 after acquiring an additional 271,668 shares in the last quarter. SCP Investment LP grew its position in Permian Resources by 225.0% in the third quarter. SCP Investment LP now owns 93,600 shares of the company's stock valued at $1,198,000 after acquiring an additional 64,800 shares in the last quarter. Finally, Whittier Trust Co. acquired a new stake in Permian Resources in the third quarter valued at approximately $6,107,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Performance

Shares of PR opened at $20.45 on Monday. The business's fifty day moving average price is $20.53 and its 200 day moving average price is $17.11. Permian Resources Corporation has a 12-month low of $11.92 and a 12-month high of $22.67. The stock has a market capitalization of $17.12 billion, a PE ratio of 23.78 and a beta of 0.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the business posted $0.44 earnings per share. The firm's revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts forecast that Permian Resources Corporation will post 1.97 EPS for the current year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.1%. Permian Resources's dividend payout ratio (DPR) is 74.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Roth Mkm reaffirmed a "neutral" rating and issued a $22.00 price objective (up from $20.00) on shares of Permian Resources in a research report on Wednesday, April 8th. Royal Bank Of Canada increased their target price on Permian Resources from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, March 2nd. Citigroup increased their target price on Permian Resources from $21.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. TD Cowen increased their target price on Permian Resources from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company increased their target price on Permian Resources from $21.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Permian Resources has an average rating of "Buy" and an average price target of $22.38.

Insider Activity

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares in the company, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James H. Walter sold 673,425 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the completion of the sale, the chief executive officer owned 9,389,405 shares in the company, valued at $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,192,835 shares of company stock valued at $60,120,653 over the last three months. 5.00% of the stock is currently owned by company insiders.

About Permian Resources

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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