Permian Resources Co. (NYSE:PR) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its position in shares of Permian Resources Co. (NYSE:PR) by 19.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 33,874 shares of the company’s stock after selling 8,068 shares during the quarter. Captrust Financial Advisors’ holdings in Permian Resources were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its stake in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC purchased a new position in shares of Permian Resources during the 4th quarter valued at about $41,000. Finally, Lindbrook Capital LLC raised its stake in shares of Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after buying an additional 2,155 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PR. UBS Group lifted their price objective on Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Morgan Stanley cut their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Bank of America cut their price target on Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Finally, Piper Sandler cut their price target on Permian Resources from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the transaction, the chief financial officer now directly owns 130,467 shares in the company, valued at $1,825,233.33. The trade was a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Quinn bought 500,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the acquisition, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. The trade was a 160.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 9,685 shares of company stock worth $135,687. Corporate insiders own 6.44% of the company’s stock.

Permian Resources Price Performance

NYSE:PR opened at $13.50 on Monday. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $16.95. The stock has a 50 day moving average of $12.58 and a two-hundred day moving average of $13.90. 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 $10.84 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Permian Resources’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.45%. Permian Resources’s dividend payout ratio (DPR) is currently 37.04%.

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.