Permian Resources Co. (NYSE:PR) Stock Position Decreased by SG Americas Securities LLC

SG Americas Securities LLC cut its position in shares of Permian Resources Co. (NYSE:PR) by 40.0% in the fourth quarter, Holdings Channel reports. The firm owned 25,728 shares of the company’s stock after selling 17,123 shares during the period. SG Americas Securities LLC’s holdings in Permian Resources were worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perpetual Ltd acquired a new stake in Permian Resources in the 4th quarter valued at approximately $27,104,000. Regent Peak Wealth Advisors LLC bought a new position in shares of Permian Resources during the 4th quarter worth approximately $185,000. UMB Bank n.a. lifted its position in shares of Permian Resources by 61.2% during the 4th quarter. UMB Bank n.a. now owns 4,500 shares of the company’s stock worth $65,000 after buying an additional 1,709 shares during the period. Saxon Interests Inc. lifted its position in shares of Permian Resources by 59.8% during the 4th quarter. Saxon Interests Inc. now owns 21,313 shares of the company’s stock worth $306,000 after buying an additional 7,973 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in Permian Resources by 36.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 34,345 shares of the company’s stock valued at $494,000 after purchasing an additional 9,165 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research report on Monday, October 14th. Piper Sandler lifted their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial boosted their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley began coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. Finally, Benchmark dropped their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

Permian Resources Trading Down 1.6 %

Shares of PR stock opened at $14.42 on Tuesday. The stock’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $14.54. The company has a market cap of $11.58 billion, a PE ratio of 8.74, a P/E/G ratio of 4.06 and a beta of 4.28. Permian Resources Co. has a fifty-two week low of $12.59 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue was up 60.3% compared to the same quarter last year. Equities analysts predict that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. Permian Resources’s dividend payout ratio is presently 36.36%.

Insider Activity

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is owned by corporate insiders.

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.