Permian Resources Co. (NYSE:PR) Holdings Lifted by Cwm LLC

Cwm LLC boosted its holdings in shares of Permian Resources Co. (NYSE:PR) by 74.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,682 shares of the company’s stock after buying an additional 3,698 shares during the period. Cwm LLC’s holdings in Permian Resources were worth $118,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Simplicity Wealth LLC boosted its stake in shares of Permian Resources by 5.2% during the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock valued at $212,000 after buying an additional 646 shares during the period. GAMMA Investing LLC boosted its position in Permian Resources by 19.6% during the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after purchasing an additional 716 shares during the last quarter. Azzad Asset Management Inc. ADV grew its stake in Permian Resources by 2.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after purchasing an additional 740 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after purchasing an additional 781 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock worth $3,379,000 after purchasing an additional 949 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PR. Wells Fargo & Company lowered their price target on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Mizuho dropped their price target on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Benchmark cut their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a report on Monday, October 14th. Finally, The Goldman Sachs Group began coverage on Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Insider Transactions at Permian Resources

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

Permian Resources Stock Down 1.4 %

PR opened at $13.91 on Friday. Permian Resources Co. has a 1-year low of $12.34 and a 1-year high of $18.28. The business has a 50 day moving average of $13.96 and a 200-day moving average of $15.34. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 0.83 and a beta of 4.32. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business posted $0.27 EPS. The business’s quarterly revenue was up 99.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Permian Resources Co. will post 1.48 earnings per share for the current year.

Permian Resources Announces Dividend

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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. Permian Resources’s dividend payout ratio is currently 19.20%.

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.