139,545 Shares in Permian Resources Co. (NASDAQ:PR) Bought by Edge Capital Group LLC

Edge Capital Group LLC acquired a new position in Permian Resources Co. (NASDAQ:PR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 139,545 shares of the company's stock, valued at approximately $2,254,000.

Other institutional investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new stake in Permian Resources in the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in shares of Permian Resources during the first quarter worth approximately $32,000. Innealta Capital LLC purchased a new position in shares of Permian Resources during the second quarter worth approximately $30,000. Transcendent Capital Group LLC purchased a new position in shares of Permian Resources during the first quarter worth approximately $36,000. Finally, Parallel Advisors LLC increased its position in shares of Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock worth $30,000 after acquiring an additional 1,178 shares during the period. Institutional investors own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PR shares. Piper Sandler dropped their price objective on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. Wolfe Research assumed coverage on Permian Resources in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Mizuho decreased their target price on Permian Resources from $22.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Susquehanna decreased their target price on Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Finally, UBS Group decreased their target price on Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Insider Buying and Selling at Permian Resources

In other Permian Resources 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 in the company, valued at approximately $1,075,911.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Robert Regan Shannon sold 4,822 shares of the firm's 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 $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares of the company's stock, valued at approximately $855,288.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 4,821 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares of the company's stock, valued at $1,075,911.41. The disclosure for this sale can be found here. Company insiders own 12.80% of the company's stock.

Permian Resources Stock Down 0.9 %

Shares of PR traded down $0.12 during mid-day trading on Friday, reaching $13.90. The company's stock had a trading volume of 35,275,514 shares, compared to its average volume of 10,088,651. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The stock has a market cap of $10.70 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The company's 50 day moving average is $14.51 and its 200 day moving average is $15.84.

Permian Resources (NASDAQ:PR - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm's quarterly revenue was up 99.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Equities analysts anticipate that Permian Resources Co. will post 1.57 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid 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 1.73%. Permian Resources's dividend payout ratio (DPR) is currently 21.82%.

About Permian Resources

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.