Raymond James Financial Inc. Has $106.04 Million Holdings in Permian Resources Corporation $PR

Key Points

• Raymond James Financial Inc. reduced its stake in Permian Resources Corporation by 2.7%, holding approximately $106.04 million in stock, as per the latest SEC filing.
• The company announced a quarterly dividend of $0.15 per share, yielding 4.5%, with the payout scheduled for September 30th to stockholders of record as of September 16th.
• Current analysts have upgraded their price targets for Permian Resources, with projections ranging from $16.00 to $23.00, indicating a consensus rating of "Moderate Buy."

Raymond James Financial Inc. lowered its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,656,591 shares of the company's stock after selling 213,728 shares during the quarter. Raymond James Financial Inc. owned 0.95% of Permian Resources worth $106,044,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PR. Allworth Financial LP boosted its position in Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company's stock worth $29,000 after acquiring an additional 1,635 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Permian Resources during the 1st quarter worth approximately $30,000. Tsfg LLC acquired a new position in Permian Resources during the 1st quarter worth approximately $46,000. Hexagon Capital Partners LLC boosted its position in Permian Resources by 30.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock worth $54,000 after acquiring an additional 921 shares during the last quarter. Finally, SouthState Corp bought a new stake in shares of Permian Resources during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Performance

PR stock traded up $0.6150 during trading hours on Friday, hitting $13.7550. 7,540,539 shares of the stock were exchanged, compared to its average volume of 10,150,771. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $11.01 billion, a P/E ratio of 8.93 and a beta of 1.32. The company has a 50-day simple moving average of $13.84 and a two-hundred day simple moving average of $13.33. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33.

Permian Resources (NYSE:PR - Get Free Report) last posted 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 firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business earned $0.39 EPS. The company's quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.15 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.4%. Permian Resources's dividend payout ratio (DPR) is presently 38.96%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PR shares. Wall Street Zen cut Permian Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Morgan Stanley upped their price objective on Permian Resources from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Monday. Susquehanna upped their price objective on Permian Resources from $19.00 to $20.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. TD Cowen upgraded Permian Resources to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $18.53.

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.