Cerity Partners LLC Has $6.56 Million Stake in Permian Resources Co. (NYSE:PR)

Cerity Partners LLC boosted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 13.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 482,291 shares of the company's stock after buying an additional 58,238 shares during the period. Cerity Partners LLC owned approximately 0.06% of Permian Resources worth $6,564,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Permian Resources during the second quarter worth $30,000. Hexagon Capital Partners LLC raised its stake in Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after purchasing an additional 1,998 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in Permian Resources in the 2nd quarter valued at about $40,000. UMB Bank n.a. grew its position 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 in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after purchasing an additional 2,629 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PR. Benchmark cut their price target on Permian Resources from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Piper Sandler upped their target price on Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Wells Fargo & Company decreased their price target on Permian Resources from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Mizuho cut their price objective on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. Finally, Citigroup decreased their target price on shares of Permian Resources from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.93.

Insider Buying and Selling

In related news, EVP John Charles Bell sold 4,821 shares of Permian Resources 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 transaction, the executive vice president now directly owns 77,237 shares of the company's stock, valued at $1,075,911.41. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Permian Resources Price Performance

PR stock traded down $0.05 during midday trading on Thursday, reaching $15.59. 5,070,645 shares of the stock were exchanged, compared to its average volume of 10,020,354. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $12.52 billion, a PE ratio of 9.45, a P/E/G ratio of 0.94 and a beta of 4.34. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28. The company has a fifty day moving average price of $14.39 and a 200 day moving average price of $14.92.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. 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 prior year, the firm posted $0.36 earnings per share. The firm's revenue was up 60.3% compared to the same quarter last year. As a group, analysts expect that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's payout ratio is 36.36%.

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.