Jones Financial Companies Lllp Has $1.72 Million Position in Permian Resources Corporation $PR

Jones Financial Companies Lllp boosted its holdings in Permian Resources Corporation (NYSE:PR) by 319.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,368 shares of the company’s stock after purchasing an additional 94,737 shares during the quarter. Jones Financial Companies Lllp’s holdings in Permian Resources were worth $1,722,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC grew its position in Permian Resources by 19.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 19,274 shares of the company’s stock valued at $267,000 after purchasing an additional 3,107 shares during the period. Janney Montgomery Scott LLC grew its position in Permian Resources by 12.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company’s stock valued at $444,000 after purchasing an additional 3,547 shares during the period. Crossmark Global Holdings Inc. grew its position in Permian Resources by 8.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 28,385 shares of the company’s stock valued at $393,000 after purchasing an additional 2,215 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Permian Resources by 27.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company’s stock valued at $425,000 after purchasing an additional 6,600 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in Permian Resources in the 1st quarter valued at $174,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,743 shares of Permian Resources stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total transaction of $67,398.03. Following the sale, the executive vice president directly owned 107,569 shares in the company, valued at $1,528,555.49. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Regan Shannon sold 4,742 shares of Permian Resources stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the sale, the executive vice president owned 91,805 shares in the company, valued at $1,305,467.10. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.44% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PR. Wells Fargo & Company lifted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a report on Tuesday, September 2nd. Susquehanna lifted their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Bank of America lifted their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Morgan Stanley lifted their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Permian Resources currently has a consensus rating of “Buy” and an average price target of $18.47.

Permian Resources Trading Down 2.0%

NYSE PR opened at $13.94 on Friday. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 9.05 and a beta of 1.42. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.63. The business’s fifty day moving average is $13.78 and its 200-day moving average is $13.29.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 16th. Permian Resources’s payout ratio is presently 38.96%.

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.