Orion Portfolio Solutions LLC Raises Position in Permian Resources Co. (NYSE:PR)

Orion Portfolio Solutions LLC raised its position in Permian Resources Co. (NYSE:PR - Free Report) by 80.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 149,335 shares of the company's stock after buying an additional 66,539 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Permian Resources were worth $2,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings 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 valued at $27,000 after buying an additional 1,998 shares during the period. Innealta Capital LLC bought a new stake in Permian Resources in the second quarter valued at $30,000. UMB Bank n.a. raised its stake in shares of Permian Resources by 99.2% during 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 in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Permian Resources during the second quarter valued at about $40,000. Finally, Blue Trust Inc. grew its holdings in 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 acquiring an additional 2,629 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PR has been the topic of a number of analyst reports. Susquehanna dropped their price target 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. Benchmark cut their target price 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. Wells Fargo & Company dropped their price objective on Permian Resources from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st. Mizuho decreased their price target on Permian Resources from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler raised their target price on Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and an average target price of $18.93.

Permian Resources Stock Performance

PR traded down $0.08 during trading on Friday, hitting $14.68. The stock had a trading volume of 4,474,797 shares, compared to its average volume of 9,882,839. The company has a 50 day moving average price of $14.67 and a 200-day moving average price of $14.85. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 0.90 and a beta of 4.35. Permian Resources Co. has a one year low of $12.59 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.22 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. Permian Resources's revenue was up 60.3% on a year-over-year basis. As a group, research analysts predict that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend 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.