Permian Resources Co. (NYSE:PR) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in Permian Resources Co. (NYSE:PR) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,163,553 shares of the company’s stock after purchasing an additional 457,478 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Permian Resources were worth $56,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its holdings 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 acquiring an additional 1,998 shares during the last quarter. Innealta Capital LLC acquired a new position in Permian Resources in the 2nd quarter valued at $30,000. UMB Bank n.a. lifted its holdings in Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in Permian Resources during the 2nd quarter worth $40,000. Finally, Blue Trust Inc. raised its position in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Permian Resources

In other news, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the sale, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. This represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 5.88 % 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 company insiders.

Permian Resources Price Performance

PR opened at $15.66 on Friday. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 0.94 and a beta of 4.34. The company has a fifty day simple moving average of $14.45 and a 200 day simple moving average of $14.92.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts expect that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Thursday, November 14th. Permian Resources’s dividend payout ratio is presently 36.36%.

Analysts Set New Price Targets

PR has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Citigroup reduced their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Piper Sandler lifted their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources 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.