Private Advisor Group LLC Lowers Stock Holdings in Permian Resources Co. (NYSE:PR)

Private Advisor Group LLC trimmed its position in Permian Resources Co. (NYSE:PR) by 23.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,399 shares of the company’s stock after selling 5,384 shares during the period. Private Advisor Group LLC’s holdings in Permian Resources were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Venture Visionary Partners LLC boosted its stake in shares of Permian Resources by 8.9% during the 3rd quarter. Venture Visionary Partners LLC now owns 124,750 shares of the company’s stock worth $1,698,000 after acquiring an additional 10,150 shares in the last quarter. Blue Trust Inc. raised its holdings in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 2,629 shares during the last quarter. Secure Asset Management LLC raised its holdings in Permian Resources by 32.4% during the third quarter. Secure Asset Management LLC now owns 111,558 shares of the company’s stock worth $1,518,000 after purchasing an additional 27,331 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Permian Resources by 13.6% during the third quarter. Bleakley Financial Group LLC now owns 14,934 shares of the company’s stock worth $203,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Seven Grand Managers LLC grew its holdings in Permian Resources by 50.0% in the third quarter. Seven Grand Managers LLC now owns 750,000 shares of the company’s stock valued at $10,208,000 after purchasing an additional 250,000 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Up 2.7 %

NYSE PR opened at $14.97 on Friday. The company has a market cap of $12.01 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.83 and a beta of 4.34. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The company has a 50-day moving average of $13.88 and a 200-day moving average of $15.11.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. Permian Resources’s revenue for the quarter was up 99.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Permian Resources Co. will post 1.46 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 4.01%. Permian Resources’s payout ratio is currently 19.20%.

Insider Transactions at Permian Resources

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

Analysts Set New Price Targets

PR has been the subject of a number of recent research reports. Benchmark dropped their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Susquehanna dropped their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Mizuho decreased their price objective on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Citigroup dropped their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.