Wealth Enhancement Advisory Services LLC Buys 31,812 Shares of Permian Resources Corporation (NYSE:PR)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 21.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,769 shares of the company's stock after acquiring an additional 31,812 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Permian Resources were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in shares of Permian Resources by 129.3% during the first quarter. SG Americas Securities LLC now owns 58,986 shares of the company's stock worth $817,000 after acquiring an additional 33,258 shares during the last quarter. MADDEN SECURITIES Corp increased its holdings in Permian Resources by 1.9% in the first quarter. MADDEN SECURITIES Corp now owns 70,275 shares of the company's stock worth $973,000 after purchasing an additional 1,300 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Permian Resources by 55.0% in the first quarter. Park Avenue Securities LLC now owns 20,457 shares of the company's stock worth $283,000 after purchasing an additional 7,262 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Permian Resources in the first quarter worth approximately $148,000. Finally, UMB Bank n.a. increased its holdings in Permian Resources by 37.2% in the first quarter. UMB Bank n.a. now owns 6,175 shares of the company's stock worth $86,000 after purchasing an additional 1,675 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PR has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Piper Sandler lowered their target price on Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group lifted their target price on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $23.00 target price (up from $20.00) on shares of Permian Resources in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.

Permian Resources Trading Down 1.3%

NYSE PR opened at $13.75 on Friday. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 8.48 and a beta of 1.24. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.95. The business has a 50 day moving average price of $13.20 and a 200-day moving average price of $13.61. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm 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 company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, equities analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.37%. Permian Resources's payout ratio is 37.04%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.