Voya Investment Management LLC Increases Stock Position in Permian Resources Corporation $PR

Key Points

• Voya Investment Management LLC has increased its stake in Permian Resources Corporation by 58.4%, purchasing an additional 190,105 shares, bringing its total ownership to approximately 515,771 shares valued at $7.14 million.
• Permian Resources has reported a **quarterly EPS of $0.27**, meeting analysts' consensus estimates, with a revenue of $1.20 billion, slightly below expectations but showcasing a net margin of 22.41%.
• The company announced a **quarterly dividend of $0.15 per share**, set to be paid on September 30th, representing an annualized yield of 4.4% and a payout ratio of 38.96%.

Voya Investment Management LLC lifted its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 58.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515,771 shares of the company's stock after acquiring an additional 190,105 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of Permian Resources worth $7,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in shares of Permian Resources by 28.8% during the fourth quarter. Cetera Investment Advisers now owns 57,596 shares of the company's stock valued at $828,000 after acquiring an additional 12,868 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Permian Resources by 23.3% during the 4th quarter. Lazard Asset Management LLC now owns 62,518 shares of the company's stock valued at $897,000 after buying an additional 11,797 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Permian Resources by 49.3% during the 4th quarter. Quantinno Capital Management LP now owns 23,153 shares of the company's stock worth $333,000 after purchasing an additional 7,648 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Permian Resources by 7.6% during the 4th quarter. ProShare Advisors LLC now owns 29,774 shares of the company's stock worth $428,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Permian Resources by 7.2% in the 4th quarter. Tidal Investments LLC now owns 21,584 shares of the company's stock worth $310,000 after acquiring an additional 1,442 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Robert Regan Shannon sold 4,742 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Charles Bell sold 4,743 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total transaction of $67,398.03. Following the completion of the transaction, the executive vice president directly owned 107,569 shares in the company, valued at $1,528,555.49. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by company insiders.

Permian Resources Trading Down 2.4%

NYSE PR traded down $0.32 during trading hours on Friday, hitting $13.26. 19,190,397 shares of the company were exchanged, compared to its average volume of 12,330,170. The stock has a market cap of $10.61 billion, a PE ratio of 8.61 and a beta of 1.42. The stock has a 50-day moving average price of $13.70 and a 200 day moving average price of $13.30. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.33. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.34.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.23 billion. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.Permian Resources's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Analysts forecast 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. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Permian Resources's dividend payout ratio (DPR) is currently 38.96%.

Analyst Upgrades and Downgrades

PR has been the topic of several recent research reports. Scotiabank started coverage on Permian Resources in a research report on Friday. They set a "sector outperform" rating and a $21.00 price objective on the stock. UBS Group raised their target price on Permian Resources from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Royal Bank Of Canada reiterated an "outperform" rating and set a $17.00 price objective on shares of Permian Resources in a research note on Tuesday, September 2nd. Morgan Stanley lifted their target price on Permian Resources from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, William Blair initiated coverage on Permian Resources in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of "Buy" and a consensus price target of $18.63.

Permian Resources 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.