Sharpepoint LLC Has $1.36 Million Stake in Permian Resources Corporation (NYSE:PR)

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

Several other large investors have also modified their holdings of PR. Vanguard Group Inc. lifted its stake in Permian Resources by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock worth $944,487,000 after acquiring an additional 870,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Permian Resources by 60.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock worth $469,856,000 after acquiring an additional 12,306,854 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Permian Resources during the 4th quarter worth about $431,676,000. Massachusetts Financial Services Co. MA lifted its stake in Permian Resources by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock worth $265,209,000 after acquiring an additional 291,444 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Permian Resources by 55.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock worth $169,864,000 after acquiring an additional 4,236,141 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Performance

PR stock traded down $0.01 on Friday, reaching $14.18. The company's stock had a trading volume of 6,989,920 shares, compared to its average volume of 9,763,664. The company has a market capitalization of $11.39 billion, a P/E ratio of 8.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.95. The firm has a fifty day moving average of $13.60 and a two-hundred day moving average of $13.62.

Permian Resources (NYSE:PR - Get Free Report) last released 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 return on equity of 11.96% and a net margin of 22.74%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company earned $0.25 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.23%. The ex-dividend date was Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analyst Weigh In

PR has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price target on Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. Piper Sandler reduced their price target on Permian Resources from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Bank of America increased their price target on Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group increased their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.