Whittier Trust Co. Has $12.82 Million Stock Position in Permian Resources Corporation $PR

Key Points

• Whittier Trust Co. increased its stake in Permian Resources by 13.1% in the first quarter, ending with 606,927 shares valued at about $12.82 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 91.84% of the stock. Several other firms also added to or initiated positions in PR during recent quarters.
• Permian Resources reported Q1 earnings of $0.39 per share, slightly beating estimates, and recently paid a quarterly dividend of $0.16 per share, implying a 3.5% annualized yield.

Whittier Trust Co. grew its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 13.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 606,927 shares of the company's stock after purchasing an additional 70,065 shares during the period. Whittier Trust Co. owned about 0.07% of Permian Resources worth $12,824,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SHP Wealth Management bought a new stake in Permian Resources during the fourth quarter worth $27,000. SJS Investment Consulting Inc. lifted its stake in Permian Resources by 1,862.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company's stock valued at $30,000 after acquiring an additional 1,341 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Permian Resources during the 4th quarter valued at $39,000. State of Wyoming boosted its holdings in Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company's stock worth $41,000 after acquiring an additional 1,640 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company's stock worth $57,000 after acquiring an additional 3,224 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Guy M. Oliphint sold 62,769 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the sale, the executive vice president owned 542,503 shares in the company, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on PR shares. Weiss Ratings lowered shares of Permian Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 12th. The Goldman Sachs Group lifted their target price on shares of Permian Resources from $17.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Roth Mkm set a $23.00 price target on shares of Permian Resources and gave the stock a "buy" rating in a report on Monday, June 22nd. TD Cowen upped their target price on Permian Resources from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, March 17th. Finally, Mizuho raised their price objective on Permian Resources from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Permian Resources presently has an average rating of "Buy" and a consensus target price of $23.53.

Permian Resources Stock Down 0.0%

PR stock opened at $18.20 on Monday. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67. The business's 50 day moving average price is $19.76 and its two-hundred day moving average price is $18.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 21.16 and a beta of 0.46.

Permian Resources (NYSE:PR - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the business posted $0.44 EPS. The firm's revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts forecast that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.5%. Permian Resources's dividend payout ratio (DPR) is currently 74.42%.

Permian Resources Company Profile

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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