Permian Resources (NYSE:PR) Trading Down 3.9% - Here's What Happened

Permian Resources Co. (NYSE:PR - Get Free Report)'s stock price dropped 3.9% on Friday . The company traded as low as $14.66 and last traded at $14.67. Approximately 786,351 shares changed hands during trading, a decline of 92% from the average daily volume of 9,900,867 shares. The stock had previously closed at $15.27.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. 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 report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price objective on Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Truist Financial boosted their target price on Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Mizuho decreased their price target on Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.93.

Permian Resources Trading Down 3.9 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The business has a fifty day simple moving average of $14.60 and a 200 day simple moving average of $14.86. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.91 and a beta of 4.35.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm's quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. As a group, equities analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. This is an increase from Permian Resources's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.09%. Permian Resources's dividend payout ratio is presently 36.36%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PR. Hexagon Capital Partners LLC grew 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 purchasing an additional 1,998 shares during the period. Innealta Capital LLC acquired a new position in shares of Permian Resources in the 2nd quarter valued at $30,000. UMB Bank n.a. grew its stake in shares of Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock valued at $38,000 after buying an additional 1,390 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Permian Resources during the 2nd quarter worth $40,000. Finally, Sunbelt Securities Inc. raised its position in shares of Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after buying an additional 800 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.