CWA Asset Management Group LLC Has $1.59 Million Stock Position in Permian Resources Co. (NYSE:PR)

CWA Asset Management Group LLC boosted its stake in shares of Permian Resources Co. (NYSE:PR) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,206 shares of the company’s stock after acquiring an additional 10,945 shares during the quarter. CWA Asset Management Group LLC’s holdings in Permian Resources were worth $1,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PR. Nordea Investment Management AB grew its stake in shares of Permian Resources by 1.5% during the fourth quarter. Nordea Investment Management AB now owns 278,054 shares of the company’s stock valued at $4,007,000 after purchasing an additional 4,115 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Permian Resources by 57.9% during the 4th quarter. GAMMA Investing LLC now owns 6,406 shares of the company’s stock worth $92,000 after buying an additional 2,348 shares in the last quarter. Principal Financial Group Inc. boosted its position in Permian Resources by 35.3% in the 3rd quarter. Principal Financial Group Inc. now owns 3,984,490 shares of the company’s stock valued at $54,235,000 after buying an additional 1,038,489 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Permian Resources by 21.6% in the 3rd quarter. Retirement Systems of Alabama now owns 770,883 shares of the company’s stock valued at $10,492,000 after buying an additional 136,971 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Permian Resources by 54.9% during the third quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company’s stock worth $19,351,000 after acquiring an additional 482,405 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler decreased their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Truist Financial increased their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, UBS Group lowered their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.87.

Permian Resources Price Performance

NYSE PR opened at $14.94 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 0.88 and a beta of 4.32. The business has a 50 day simple moving average of $14.68 and a 200 day simple moving average of $14.66. Permian Resources Co. has a 52-week low of $12.59 and a 52-week high of $18.28.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates 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 last year, the business posted $0.36 earnings per share. Analysts anticipate 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.02%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. Permian Resources’s payout ratio is 36.36%.

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.