Hodges Capital Management Inc. lowered its position in Permian Resources Co. (NASDAQ:PR - Free Report) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,536,622 shares of the company's stock after selling 64,754 shares during the period. Permian Resources comprises about 1.7% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 15th biggest holding. Hodges Capital Management Inc. owned 0.20% of Permian Resources worth $24,816,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of Permian Resources during the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of Permian Resources during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new stake in Permian Resources in the first quarter valued at approximately $32,000. Innealta Capital LLC purchased a new stake in shares of Permian Resources during the second quarter worth about $30,000. Finally, Transcendent Capital Group LLC acquired a new position in Permian Resources during the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 91.84% of the company's stock.
Permian Resources Price Performance
Shares of Permian Resources stock traded down $0.19 on Wednesday, hitting $13.58. The company's stock had a trading volume of 7,297,885 shares, compared to its average volume of 9,973,403. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. The firm has a fifty day moving average price of $15.19 and a 200-day moving average price of $15.98. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. Permian Resources Co. has a 1 year low of $12.34 and a 1 year high of $18.28.
Permian Resources (NASDAQ:PR - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $0.27 EPS. The business's quarterly revenue was up 99.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Permian Resources Co. will post 1.63 earnings per share for the current fiscal year.
Permian Resources Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.77%. Permian Resources's dividend payout ratio (DPR) is 21.82%.
Analyst Ratings Changes
A number of brokerages recently commented on PR. Benchmark reiterated a "buy" rating and issued a $17.00 target price on shares of Permian Resources in a research report on Wednesday, August 7th. Citigroup dropped their price objective 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. Susquehanna reduced their target price on shares of Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday. Piper Sandler lowered their price target on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. Finally, Truist Financial lifted their price objective on Permian Resources from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. 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. Based on data from MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and a consensus target price of $19.93.
Check Out Our Latest Report on PR
About Permian Resources
(
Free Report)
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.
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