Talon Private Wealth LLC Acquires 148,529 Shares of Permian Resources Corporation $PR

Key Points

• Talon Private Wealth LLC significantly increased its stake in Permian Resources Corporation, growing its holdings by 4,082.7% to 152,167 shares, valued at approximately $2.12 million.
• Permian Resources reported $1.20 billion in revenue for the last quarter, slightly below analyst expectations of $1.23 billion, with earnings per share at $0.27.
• The company declared a quarterly dividend of $0.15 per share, resulting in an annual yield of 4.3%, with a payout ratio of 38.96%.

Talon Private Wealth LLC raised its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 4,082.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,167 shares of the company's stock after acquiring an additional 148,529 shares during the period. Talon Private Wealth LLC's holdings in Permian Resources were worth $2,116,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PR. Allworth Financial LP boosted its holdings in Permian Resources by 376.7% during the first quarter. Allworth Financial LP now owns 2,069 shares of the company's stock valued at $29,000 after acquiring an additional 1,635 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in Permian Resources during the first quarter valued at about $30,000. Keystone Global Partners LLC bought a new stake in Permian Resources during the first quarter valued at about $36,000. Brooklyn Investment Group boosted its holdings in Permian Resources by 433.9% during the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company's stock valued at $43,000 after acquiring an additional 2,534 shares during the period. Finally, Tsfg LLC bought a new stake in Permian Resources during the first quarter valued at about $46,000. 91.84% of the stock is currently owned by institutional investors.

Insider Activity at Permian Resources

In other news, EVP John Charles Bell sold 4,743 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total transaction of $67,398.03. Following the sale, the executive vice president directly owned 107,569 shares of the company's stock, valued at $1,528,555.49. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Regan Shannon sold 4,742 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total transaction of $67,431.24. Following the sale, the executive vice president directly owned 91,805 shares in the company, valued at $1,305,467.10. This trade represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PR shares. TD Cowen raised shares of Permian Resources to a "strong-buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group upped their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Susquehanna upped their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of Permian Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial dropped their price target on shares of Permian Resources from $23.00 to $22.00 and set a "strong-buy" rating for the company in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $18.47.

Permian Resources Price Performance

Shares of PR traded down $0.15 during mid-day trading on Friday, hitting $13.81. 3,384,559 shares of the company traded hands, compared to its average volume of 10,017,746. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.33. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $13.78 and a 200 day moving average of $13.29. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 8.96 and a beta of 1.42.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. Permian Resources's revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Permian Resources's dividend payout ratio is 38.96%.

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.