Envestnet Asset Management Inc. Has $2.10 Million Holdings in Permian Resources Co. (NYSE:PR)

Envestnet Asset Management Inc. decreased its holdings in Permian Resources Co. (NYSE:PR) by 58.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 129,984 shares of the company’s stock after selling 183,000 shares during the period. Envestnet Asset Management Inc.’s holdings in Permian Resources were worth $2,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PR. CoreCap Advisors LLC acquired a new stake in Permian Resources during the 2nd quarter valued at approximately $477,000. Hardin Capital Partners LLC bought a new position in Permian Resources during the second quarter worth $227,000. Federated Hermes Inc. raised its stake in Permian Resources by 16.5% during the second quarter. Federated Hermes Inc. now owns 105,338 shares of the company’s stock worth $1,701,000 after buying an additional 14,947 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new position in Permian Resources in the second quarter valued at $308,000. Finally, American Century Companies Inc. boosted its position in Permian Resources by 5.4% during the second quarter. American Century Companies Inc. now owns 4,856,084 shares of the company’s stock valued at $78,426,000 after acquiring an additional 247,733 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Up 2.5 %

Shares of NYSE:PR opened at $14.70 on Friday. The business’s 50 day moving average is $14.10 and its 200 day moving average is $15.68. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.83 and a beta of 4.32. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year. On average, sell-side analysts forecast that Permian Resources Co. will post 1.49 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s payout ratio is 21.82%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Mizuho reduced their price objective on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial dropped their target price on shares of Permian Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Susquehanna reduced their price target on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Bank of America reiterated a “buy” rating and set a $20.00 price objective on shares of Permian Resources in a report on Friday, June 14th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.20.

Insider Buying and Selling at Permian Resources

In related news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the transaction, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

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.