Sharpepoint LLC Buys 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% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,240 shares of the company's stock after purchasing 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.

A number of other hedge funds also recently modified their holdings of PR. Proficio Capital Partners LLC acquired a new stake in shares of Permian Resources during the fourth quarter worth about $207,000. US Bancorp DE raised its position in Permian Resources by 113.9% in the 4th quarter. US Bancorp DE now owns 20,623 shares of the company's stock valued at $297,000 after buying an additional 10,981 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Permian Resources by 6.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,391 shares of the company's stock valued at $423,000 after buying an additional 1,797 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Permian Resources by 4.2% in 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 buying an additional 176,320 shares during the last quarter. Finally, M&T Bank Corp raised its position in Permian Resources by 60.9% in the 4th quarter. M&T Bank Corp now owns 53,742 shares of the company's stock valued at $773,000 after buying an additional 20,340 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PR. TD Cowen raised Permian Resources to a "strong-buy" rating in a research report on Monday. Wells Fargo & Company reduced their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Susquehanna dropped their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada lifted their price objective on Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Permian Resources Trading Up 0.4%

Shares of NYSE PR traded up $0.06 during trading on Friday, reaching $14.25. The company had a trading volume of 4,106,496 shares, compared to its average volume of 9,745,962. The company's fifty day moving average price is $13.56 and its 200-day moving average price is $13.62. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.95. The stock has a market cap of $11.45 billion, a P/E ratio of 8.79 and a beta of 1.25. 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 announced its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, research analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.21%. Permian Resources's payout ratio is currently 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.