First National Bank of Omaha Acquires New Position in Permian Resources Co. (NYSE:PR)

First National Bank of Omaha bought a new stake in Permian Resources Co. (NYSE:PR - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 140,571 shares of the company's stock, valued at approximately $1,913,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its position in 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 period. Innealta Capital LLC bought a new stake in shares of Permian Resources in the 2nd quarter worth approximately $30,000. UMB Bank n.a. lifted its stake in Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock valued at $38,000 after purchasing an additional 1,390 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in Permian Resources during the second quarter valued at $40,000. Finally, Blue Trust Inc. increased its position in Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after buying an additional 2,629 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PR. Royal Bank of Canada reaffirmed an "outperform" rating and set a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. The Goldman Sachs Group started coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a "buy" rating and a $19.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Thursday, September 12th. Piper Sandler raised their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Finally, Susquehanna lowered their target price on shares of Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.93.

Permian Resources Price Performance

NYSE PR traded up $0.12 during trading on Monday, reaching $14.79. The company's stock had a trading volume of 7,008,301 shares, compared to its average volume of 9,934,510. The stock has a market capitalization of $11.88 billion, a PE ratio of 8.96, a P/E/G ratio of 0.88 and a beta of 4.35. 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 firm has a fifty day moving average of $14.62 and a 200 day moving average of $14.85. Permian Resources Co. has a one year low of $12.47 and a one year high of $18.28.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.22 billion. During the same period in the prior year, the business earned $0.36 earnings per share. Permian Resources's revenue for the quarter was up 60.3% compared to the same quarter last year. Analysts expect that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently disclosed 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 is an increase from Permian Resources's previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources's payout ratio is currently 36.36%.

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.