Sanctuary Advisors LLC Increases Holdings in Permian Resources Co. (NYSE:PR)

Sanctuary Advisors LLC boosted its position in Permian Resources Co. (NYSE:PR) by 35.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,403 shares of the company’s stock after purchasing an additional 12,471 shares during the period. Sanctuary Advisors LLC’s holdings in Permian Resources were worth $645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Michigan Retirement System raised its position in Permian Resources by 9.8% during the second quarter. State of Michigan Retirement System now owns 123,700 shares of the company’s stock worth $1,998,000 after acquiring an additional 11,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Permian Resources by 726.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 97,264 shares of the company’s stock worth $1,571,000 after purchasing an additional 85,499 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Permian Resources by 11.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,430 shares of the company’s stock worth $2,865,000 after purchasing an additional 18,677 shares during the last quarter. Innealta Capital LLC purchased a new stake in Permian Resources in the 2nd quarter valued at approximately $30,000. Finally, Principal Financial Group Inc. increased its position in Permian Resources by 1.7% during the second quarter. Principal Financial Group Inc. now owns 2,946,001 shares of the company’s stock worth $47,578,000 after buying an additional 49,787 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Performance

NYSE PR opened at $13.95 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The firm has a market capitalization of $11.21 billion, a P/E ratio of 8.45, a P/E/G ratio of 0.88 and a beta of 4.35. The business’s 50-day simple moving average is $14.59 and its 200-day simple moving average is $14.74.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $0.36 earnings per share. Permian Resources’s revenue was up 60.3% compared to the same quarter last year. Equities analysts predict that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 4.30%. Permian Resources’s dividend payout ratio (DPR) is 36.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PR shares. UBS Group reduced their price objective on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on shares of Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 target price on the stock. Benchmark lowered their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Finally, Susquehanna decreased their target price 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. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.