Venture Visionary Partners LLC Purchases 10,150 Shares of Permian Resources Co. (NYSE:PR)

Venture Visionary Partners LLC boosted its holdings in Permian Resources Co. (NYSE:PR) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,750 shares of the company’s stock after acquiring an additional 10,150 shares during the quarter. Venture Visionary Partners LLC’s holdings in Permian Resources were worth $1,698,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Simplicity Wealth LLC grew its position in Permian Resources by 5.2% in the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after purchasing an additional 646 shares during the period. GAMMA Investing LLC increased its position in Permian Resources by 19.6% during the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after acquiring an additional 716 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Permian Resources by 2.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after acquiring an additional 740 shares during the period. Mount Yale Investment Advisors LLC boosted its position in Permian Resources by 3.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after purchasing an additional 781 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after purchasing an additional 949 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

PR opened at $13.87 on Tuesday. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.84 and a beta of 4.32. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. The company has a fifty day moving average of $14.03 and a 200 day moving average of $15.41.

Permian Resources (NYSE:PR) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 99.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Permian Resources Co. will post 1.48 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. Permian Resources’s dividend payout ratio is currently 19.20%.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PR shares. UBS Group lowered their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Citigroup dropped their price target on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial reduced their price objective on Permian Resources from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Mizuho lowered their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.73.

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.