UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in Permian Resources Co. (NYSE:PR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024,949 shares of the company's stock after buying an additional 117,229 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of Permian Resources worth $13,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Permian Resources in the second quarter valued at about $30,000. Hexagon Capital Partners LLC grew its holdings in shares of Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after acquiring an additional 1,998 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new position in Permian Resources in the 2nd quarter valued at approximately $40,000. UMB Bank n.a. increased its stake in Permian Resources by 99.2% in the 3rd 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. Finally, Blue Trust Inc. raised 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 purchasing an additional 2,629 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PR. Susquehanna dropped their price target on Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Mizuho dropped their target price on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Royal Bank of Canada restated an "outperform" rating and set a $17.00 target price on shares of Permian Resources in a research report on Monday, October 14th. Piper Sandler increased their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company cut their price objective on Permian Resources from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Permian Resources has an average rating of "Moderate Buy" and a consensus target price of $18.93.

Permian Resources Trading Down 3.9 %

NYSE PR traded down $0.60 during trading hours on Friday, hitting $14.67. 11,266,715 shares of the company's stock were exchanged, compared to its average volume of 7,562,837. The business's 50 day moving average is $14.60 and its 200-day moving average is $14.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The firm has a market capitalization of $11.79 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.91 and a beta of 4.35.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $0.36 EPS. The company's revenue was up 60.3% on a year-over-year basis. As a group, analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal 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 issued 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 dividend payout ratio (DPR) is 36.36%.

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.