Sharpepoint LLC Purchases 26,961 Shares of Permian Resources Corporation (NYSE:PR)

Sharpepoint LLC lifted its holdings in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 37.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,240 shares of the company's stock after buying an additional 26,961 shares during the period. Sharpepoint LLC's holdings in Permian Resources were worth $1,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Permian Resources by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after purchasing an additional 662 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Permian Resources by 1.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 60,048 shares of the company's stock worth $863,000 after acquiring an additional 921 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Permian Resources by 30.8% in the first 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. Coldstream Capital Management Inc. raised its position in Permian Resources by 8.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 13,355 shares of the company's stock valued at $192,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Permian Resources by 1.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 64,181 shares of the company's stock worth $889,000 after buying an additional 1,106 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Price Performance

PR stock traded up $0.06 during midday trading on Thursday, reaching $14.21. 8,283,017 shares of the company's stock traded hands, compared to its average volume of 9,767,697. The company has a 50-day simple moving average of $13.52 and a two-hundred day simple moving average of $13.62. 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 Corporation has a 1-year low of $10.01 and a 1-year high of $16.95. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 9.31 and a beta of 1.25.

Permian Resources (NYSE:PR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $0.25 earnings per share. The business's quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts anticipate that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.22%. Permian Resources's dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PR. The Goldman Sachs Group boosted their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Royal Bank Of Canada boosted their price target on shares of Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Bank of America raised their price objective 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. Piper Sandler lowered their target price on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Susquehanna dropped their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

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.