Tidal Investments LLC reduced its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 76.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 20,142 shares of the company's stock after selling 66,965 shares during the period. Tidal Investments LLC's holdings in Permian Resources were worth $274,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of PR. Innealta Capital LLC purchased a new stake in shares of Permian Resources during the second quarter worth approximately $30,000. Hexagon Capital Partners LLC raised its position in Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after buying an additional 1,998 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock worth $38,000 after acquiring an additional 1,390 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock valued at $43,000 after acquiring an additional 800 shares in the last quarter. Finally, Blue Trust Inc. increased its stake 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 acquiring an additional 2,629 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Mizuho decreased their price target 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. UBS Group decreased their target price on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Finally, Benchmark reduced their price objective on shares of Permian Resources from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.87.
Check Out Our Latest Stock Report on PR
Permian Resources Price Performance
Shares of NYSE PR traded up $0.19 during trading on Wednesday, reaching $13.95. The company had a trading volume of 2,633,531 shares, compared to its average volume of 9,828,802. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $11.21 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.88 and a beta of 4.35. Permian Resources Co. has a twelve month low of $12.59 and a twelve month high of $18.28. The stock has a 50-day moving average price of $14.60 and a two-hundred day moving average price of $14.72.
Permian Resources (NYSE:PR - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm's revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts predict that Permian Resources Co. will post 1.47 earnings per share for the current year.
Permian Resources Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were paid a $0.15 dividend. This is a boost from Permian Resources's previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 4.30%. The ex-dividend date was Thursday, November 14th. Permian Resources's payout ratio is presently 36.36%.
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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