Viking Fund Management LLC Sells 100,000 Shares of Permian Resources Corporation $PR

Viking Fund Management LLC lessened its holdings in shares of Permian Resources Corporation (NYSE:PR) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741,000 shares of the company’s stock after selling 100,000 shares during the period. Permian Resources makes up 1.1% of Viking Fund Management LLC’s portfolio, making the stock its 28th biggest position. Viking Fund Management LLC owned approximately 0.09% of Permian Resources worth $9,485,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Nordea Investment Management AB increased its position in shares of Permian Resources by 70.1% during the second quarter. Nordea Investment Management AB now owns 490,311 shares of the company’s stock worth $6,727,000 after acquiring an additional 202,026 shares in the last quarter. Friedenthal Financial bought a new stake in Permian Resources in the 2nd quarter valued at $871,000. American Century Companies Inc. boosted its stake in Permian Resources by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock worth $150,409,000 after purchasing an additional 1,863,632 shares during the period. UMB Bank n.a. increased its holdings in Permian Resources by 12.6% during the 2nd quarter. UMB Bank n.a. now owns 6,953 shares of the company’s stock worth $95,000 after purchasing an additional 778 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of Permian Resources by 599.2% in the 2nd quarter. Cresset Asset Management LLC now owns 174,508 shares of the company’s stock valued at $2,377,000 after purchasing an additional 149,548 shares during the period. 91.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James Financial reduced their price objective on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 2nd. Morgan Stanley restated an “overweight” rating on shares of Permian Resources in a research note on Thursday, November 20th. UBS Group upped their price target on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler lowered their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Scotiabank started coverage on shares of Permian Resources in a research report on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.07.

Permian Resources Trading Up 0.3%

NYSE PR opened at $13.82 on Friday. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $13.50 and a 200-day moving average of $13.64. The company has a market cap of $11.46 billion, a PE ratio of 12.67 and a beta of 0.70.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.Permian Resources’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, equities research analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, December 17th. Permian Resources’s dividend payout ratio is presently 55.05%.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.