SG Americas Securities LLC Has $817,000 Stake in Permian Resources Corporation (NYSE:PR)

SG Americas Securities LLC grew its stake in Permian Resources Corporation (NYSE:PR - Free Report) by 129.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,986 shares of the company's stock after buying an additional 33,258 shares during the quarter. SG Americas Securities LLC's holdings in Permian Resources were worth $817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. Principal Securities Inc. boosted its holdings in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares during the period. Global Retirement Partners LLC boosted 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 buying an additional 1,232 shares during the period. Rakuten Securities Inc. boosted its holdings in shares of Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after buying an additional 2,305 shares during the period. RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources in the fourth quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after buying an additional 2,155 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PR. Royal Bank Of Canada increased their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Piper Sandler reduced their target price on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Bank of America increased their target price on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.50.

Permian Resources Stock Performance

Shares of PR traded up $0.06 during trading hours on Friday, hitting $14.75. The company had a trading volume of 10,893,407 shares, compared to its average volume of 9,873,954. The firm has a market cap of $11.85 billion, a price-to-earnings ratio of 9.10 and a beta of 1.24. The business has a fifty day moving average of $12.96 and a 200-day moving average of $13.66. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34.

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 the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company earned $0.25 earnings per share. Permian Resources's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is 37.04%.

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.