Richard P Slaughter Associates Inc Sells 286,478 Shares of Permian Resources Co. (NYSE:PR)

Richard P Slaughter Associates Inc lowered its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 95.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,525 shares of the company's stock after selling 286,478 shares during the quarter. Richard P Slaughter Associates Inc's holdings in Permian Resources were worth $201,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC bought a new position in Permian Resources in the fourth quarter valued at approximately $632,000. Charles Schwab Investment Management Inc. lifted its stake in Permian Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock valued at $62,407,000 after acquiring an additional 176,320 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Permian Resources by 36.9% in the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock worth $3,881,000 after acquiring an additional 72,726 shares during the last quarter. Channing Capital Management LLC grew its holdings in Permian Resources by 286.1% during the 4th quarter. Channing Capital Management LLC now owns 620,138 shares of the company's stock valued at $8,918,000 after buying an additional 459,516 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Permian Resources by 60.9% in the fourth quarter. M&T Bank Corp now owns 53,742 shares of the company's stock worth $773,000 after buying an additional 20,340 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Performance

NYSE PR traded up $0.47 during trading hours on Friday, hitting $13.58. 11,559,307 shares of the stock were exchanged, compared to its average volume of 9,696,770. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $16.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 4.05 and a beta of 1.24. The stock has a 50-day moving average of $12.34 and a 200 day moving average of $13.73.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the firm earned $0.25 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Permian Resources Co. will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.42%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is 37.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PR shares. Raymond James reissued a "strong-buy" rating and issued a $23.00 target price (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. UBS Group boosted their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Susquehanna cut their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Piper Sandler reduced their price target on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada raised their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $18.56.

About Permian Resources

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.