Wilmington Savings Fund Society FSB Invests $57,000 in Permian Resources Co. (NYSE:PR)

Wilmington Savings Fund Society FSB purchased a new stake in Permian Resources Co. (NYSE:PR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,200 shares of the company’s stock, valued at approximately $57,000.

A number of other large investors have also recently added to or reduced their stakes in PR. Hexagon Capital Partners LLC boosted its holdings in Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after purchasing an additional 1,998 shares during the period. Innealta Capital LLC acquired a new position in shares of Permian Resources in the 2nd quarter valued at about $30,000. UMB Bank n.a. grew its position in shares of 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. Sunbelt Securities Inc. raised its stake in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PR has been the topic of a number of research reports. Benchmark dropped their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. Wells Fargo & Company lowered their price target 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. Susquehanna cut their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Truist Financial upped their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $18.87.

Permian Resources Stock Up 0.6 %

PR stock 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 firm has a market cap of $10.93 billion, a PE ratio of 8.24, a P/E/G ratio of 0.88 and a beta of 4.35. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The firm has a 50 day simple moving average of $14.60 and a 200 day simple moving average of $14.76.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping 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 business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 60.3% compared to the same quarter last year. Equities research analysts forecast that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, November 14th. 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 dividend yield of 4.41%. Permian Resources’s dividend payout ratio (DPR) is 36.36%.

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.