Sigma Planning Corp Boosts Holdings in Permian Resources Co. (NYSE:PR)

Sigma Planning Corp lifted its stake in shares of Permian Resources Co. (NYSE:PR) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,221 shares of the company’s stock after acquiring an additional 3,967 shares during the period. Sigma Planning Corp’s holdings in Permian Resources were worth $302,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Atria Investments Inc purchased a new position in shares of Permian Resources in the 3rd quarter worth $417,000. Verdence Capital Advisors LLC raised its holdings in shares of Permian Resources by 6.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 277,637 shares of the company’s stock worth $3,779,000 after purchasing an additional 16,974 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Permian Resources in the 3rd quarter worth about $1,351,000. Principal Financial Group Inc. lifted its stake in shares of 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 purchasing an additional 1,038,489 shares in the last quarter. Finally, Callahan Advisors LLC grew its holdings in shares of Permian Resources by 25.7% during the 3rd quarter. Callahan Advisors LLC now owns 14,674 shares of the company’s stock worth $200,000 after purchasing an additional 3,000 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This represents a 7.28 % decrease in their ownership of the stock. The transaction 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 firm’s 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 $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by company insiders.

Permian Resources Stock Down 2.5 %

Shares of NYSE:PR opened at $14.80 on Friday. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.88 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.91 and a beta of 4.34. The company has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $15.00.

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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 60.3% on a year-over-year basis. On average, equities research analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 4.05%. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is presently 36.36%.

Wall Street Analyst Weigh In

PR has been the topic of a number of recent research reports. Susquehanna reduced their price target 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. Wells Fargo & Company reduced their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. The Goldman Sachs Group began coverage on Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 price target for the company. 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 note on Wednesday, September 18th. Finally, Benchmark decreased their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.