Free Trial

Rafferty Asset Management LLC Cuts Stock Position in Permian Resources Corporation $PR

Permian Resources logo with Energy background

Key Points

  • Rafferty Asset Management LLC reduced its holdings in Permian Resources Corporation by 8.6%, now owning approximately 406,810 shares worth about $5.6 million.
  • Institutional investors have increased their stakes significantly, with a notable purchase of $431.68 million worth of shares by Barrow Hanley Mewhinney & Strauss LLC in the fourth quarter.
  • Permian Resources declared a quarterly dividend of $0.15 per share, representing an annualized yield of 4.1%, with a payout ratio of 38.96%.
  • Five stocks we like better than Permian Resources.

Rafferty Asset Management LLC cut its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 406,810 shares of the company's stock after selling 38,096 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.05% of Permian Resources worth $5,634,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hsbc Holdings PLC bought a new position in Permian Resources in the fourth quarter valued at about $2,199,000. Coldstream Capital Management Inc. raised its position in shares of Permian Resources by 8.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 13,355 shares of the company's stock worth $192,000 after acquiring an additional 1,009 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Permian Resources during the fourth quarter worth about $1,559,000. Tudor Investment Corp ET AL raised its position in shares of Permian Resources by 127.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 155,212 shares of the company's stock worth $2,232,000 after acquiring an additional 86,959 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Permian Resources during the fourth quarter worth about $302,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PR. Susquehanna raised their target price on Permian Resources from $19.00 to $20.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. William Blair began coverage on Permian Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. Morgan Stanley raised their target price on Permian Resources from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Piper Sandler raised their target price on Permian Resources from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, UBS Group raised their target price on Permian Resources from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $18.47.

Read Our Latest Stock Analysis on Permian Resources

Permian Resources Stock Performance

Permian Resources stock traded down $0.51 during mid-day trading on Wednesday, reaching $14.01. 4,694,510 shares of the company's stock were exchanged, compared to its average volume of 10,083,778. The business's fifty day simple moving average is $13.78 and its 200 day simple moving average is $13.30. The firm has a market capitalization of $11.21 billion, a PE ratio of 9.10 and a beta of 1.42. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.33. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.34.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $0.39 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 16th. Permian Resources's payout ratio is presently 38.96%.

Permian Resources Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Permian Resources (NYSE:PR)

Should You Invest $1,000 in Permian Resources Right Now?

Before you consider Permian Resources, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Resources wasn't on the list.

While Permian Resources currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Ride The A.I. Megaboom Cover


We are about to experience the greatest A.I. boom in stock market history...

Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.

That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.

  1. The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
  2. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
  3. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.

Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.

And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...

Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.

Get This Free Report
Like this article? Share it with a colleague.