13,327 Shares in Permian Resources Co. (NYSE:PR) Bought by Abel Hall LLC

Abel Hall LLC purchased a new stake in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,327 shares of the company’s stock, valued at approximately $192,000.

Other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its stake in shares of Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Permian Resources in the 4th quarter worth $31,000. UMB Bank n.a. increased its holdings in shares of Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after purchasing an additional 1,390 shares during the period. Sunbelt Securities Inc. raised its position in shares of Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Stock Performance

Shares of NYSE:PR opened at $15.11 on Thursday. The business has a fifty day moving average of $14.96 and a 200-day moving average of $14.59. The firm has a market cap of $12.14 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 4.60 and a beta of 4.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a twelve month low of $12.59 and a twelve month high of $18.28.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 60.3% on a year-over-year basis. On average, equities research analysts predict that Permian Resources Co. will post 1.44 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 3.97%. Permian Resources’s dividend payout ratio is currently 36.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley initiated coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. Truist Financial raised their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler upped their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday. Benchmark cut their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and an average target price of $19.13.

Insiders Place Their Bets

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.80% of the company’s stock.

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.