Wellington Management Group LLP Has $577,000 Holdings in Permian Resources Co. (NYSE:PR)

Wellington Management Group LLP lifted its position in shares of Permian Resources Co. (NYSE:PR) by 188.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,404 shares of the company’s stock after acquiring an additional 27,679 shares during the quarter. Wellington Management Group LLP’s holdings in Permian Resources were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Permian Resources by 0.5% during the second 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 during the period. Avior Wealth Management LLC grew its position in shares of Permian Resources by 0.9% in the 3rd quarter. Avior Wealth Management LLC now owns 114,601 shares of the company’s stock valued at $1,560,000 after buying an additional 1,007 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Permian Resources by 17.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,833 shares of the company’s stock valued at $110,000 after buying an additional 1,032 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Permian Resources by 9.7% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,939 shares of the company’s stock valued at $209,000 after buying an additional 1,147 shares during the period. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Permian Resources by 1.0% in the third quarter. Icon Wealth Advisors LLC now owns 130,880 shares of the company’s stock worth $1,781,000 after acquiring an additional 1,349 shares during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

NYSE PR opened at $13.60 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a fifty day moving average price of $14.60 and a 200-day moving average price of $14.76. Permian Resources Co. has a 1 year low of $12.59 and a 1 year high of $18.28. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 0.88 and a beta of 4.35.

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

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.41%. 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 payout ratio is presently 36.36%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PR shares. Wells Fargo & Company decreased their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. Benchmark decreased their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Susquehanna dropped their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and an average price target of $18.87.

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.