TimesSquare Capital Management LLC Has $52.02 Million Holdings in Permian Resources Corporation (NYSE:PR)

TimesSquare Capital Management LLC increased its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,756,031 shares of the company's stock after buying an additional 25,455 shares during the quarter. TimesSquare Capital Management LLC owned 0.47% of Permian Resources worth $52,021,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Permian Resources by 376.7% in 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 last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Permian Resources in the first quarter valued at approximately $30,000. RE Dickinson Investment Advisors LLC bought a new position in shares of Permian Resources in the fourth quarter valued at approximately $41,000. Tsfg LLC bought a new position in shares of Permian Resources in the first quarter valued at approximately $46,000. Finally, Hexagon Capital Partners LLC raised 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 valued at $54,000 after acquiring an additional 921 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. TD Cowen raised shares of Permian Resources to a "strong-buy" rating in a report on Monday, July 7th. Raymond James Financial reissued a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. UBS Group boosted 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 Monday, May 12th. Finally, Wells Fargo & Company cut their price objective on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. One investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Permian Resources Stock Performance

Shares of PR stock traded down $0.21 on Tuesday, reaching $13.71. The stock had a trading volume of 3,888,403 shares, compared to its average volume of 10,018,193. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average is $13.60 and its two-hundred day moving average is $13.62. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of 8.46 and a beta of 1.25. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS 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 company 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 posted $0.25 EPS. The firm's quarterly revenue was up 10.7% on a year-over-year basis. On average, research analysts expect that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.15 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.38%. Permian Resources's dividend payout ratio (DPR) 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.