Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Permian Resources Co. (NYSE:PR)

Wealth Enhancement Advisory Services LLC lifted its position in Permian Resources Co. (NYSE:PR) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,234 shares of the company’s stock after purchasing an additional 2,360 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Permian Resources were worth $2,154,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Permian Resources during the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC boosted its stake in shares of Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Permian Resources in the first quarter worth approximately $36,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of Permian Resources in the second quarter worth approximately $40,000. Finally, UMB Bank n.a. raised its holdings in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after buying an additional 1,390 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Stock Down 1.6 %

PR stock opened at $13.41 on Friday. The business has a 50 day moving average of $13.89 and a 200 day moving average of $15.17. The firm has a market cap of $10.76 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.82 and a beta of 4.34. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. 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 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 return on equity of 11.91% and a net margin of 15.62%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. Permian Resources’s quarterly revenue was up 99.9% compared to the same quarter last year. On average, research analysts forecast that Permian Resources Co. will post 1.46 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is currently 19.20%.

Insider Activity at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $1,075,911.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the business’s 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. The trade was 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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PR shares. The Goldman Sachs Group initiated coverage on shares of Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 price target on the stock. Benchmark reduced their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. UBS Group dropped their price objective on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company reduced their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial dropped their price target on Permian Resources from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and an average target price of $18.73.

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.