Wealth Enhancement Advisory Services LLC boosted its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,769 shares of the company's stock after acquiring an additional 31,812 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Permian Resources were worth $2,490,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Principal Securities Inc. grew its stake in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares in the last quarter. Global Retirement Partners LLC lifted its position in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after acquiring an additional 1,232 shares during the last quarter. Rakuten Securities Inc. grew its stake in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after buying an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources in the 4th quarter valued at $41,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after buying an additional 2,155 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on PR. Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Raymond James Financial reissued a "strong-buy" rating and set a $23.00 price target (up from $20.00) on shares of Permian Resources in a report on Monday, May 19th. Morgan Stanley lowered their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Williams Trading set a $19.00 target price on Permian Resources in a report on Wednesday, March 5th. Finally, Bank of America boosted their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.
Get Our Latest Analysis on PR
Permian Resources Stock Performance
Shares of Permian Resources stock traded up $0.15 during trading hours on Wednesday, reaching $14.14. The company's stock had a trading volume of 7,447,721 shares, compared to its average volume of 9,736,618. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.95. The company's 50 day simple moving average is $13.28 and its 200 day simple moving average is $13.60. The stock has a market cap of $11.36 billion, a P/E ratio of 8.72 and a beta of 1.25.
Permian Resources (NYSE:PR - Get Free Report) last posted 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). 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 for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company posted $0.25 earnings per share. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts expect that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.
Permian Resources Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.24%. Permian Resources's dividend payout ratio is currently 37.04%.
Permian Resources Company Profile
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Free Report)
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.
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