Sigma Planning Corp Buys Shares of 13,560 Permian Resources Co. (NASDAQ:PR)

Sigma Planning Corp purchased a new stake in shares of Permian Resources Co. (NASDAQ:PR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,560 shares of the company’s stock, valued at approximately $184,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in Permian Resources by 317.9% during the third quarter. Tower Research Capital LLC TRC now owns 24,186 shares of the company’s stock valued at $338,000 after purchasing an additional 18,398 shares in the last quarter. Zweig DiMenna Associates LLC grew its stake in shares of Permian Resources by 35.6% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 501,300 shares of the company’s stock valued at $6,998,000 after acquiring an additional 131,500 shares during the period. Comerica Bank increased its holdings in Permian Resources by 110,645.5% in the 3rd quarter. Comerica Bank now owns 946,874 shares of the company’s stock worth $13,218,000 after acquiring an additional 946,019 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Permian Resources by 110.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,089 shares of the company’s stock worth $1,565,000 after acquiring an additional 60,474 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Permian Resources by 7.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 3,131,126 shares of the company’s stock valued at $42,584,000 after purchasing an additional 210,870 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

PR has been the topic of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Truist Financial boosted their price objective on Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Piper Sandler increased their target price on Permian Resources from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Susquehanna boosted their price target on Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Raymond James assumed coverage on shares of Permian Resources in a report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price objective for the company. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Permian Resources Stock Up 0.9 %

Shares of NASDAQ:PR opened at $17.54 on Tuesday. The company has a 50-day moving average price of $16.75 and a 200 day moving average price of $14.73. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42. Permian Resources Co. has a 12 month low of $8.94 and a 12 month high of $18.28. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 13.17 and a beta of 4.35.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. As a group, equities research analysts predict that Permian Resources Co. will post 1.66 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, March 12th. Permian Resources’s dividend payout ratio (DPR) is 17.24%.

Insider Activity

In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Brent P. Jensen sold 203,687 shares of Permian Resources stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the sale, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at $15,457,119.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the transaction, the chief accounting officer now directly owns 1,047,610 shares in the company, valued at approximately $15,337,010.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,916,943 shares of company stock valued at $516,796,999. 12.80% of the stock is currently owned by company insiders.

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.