Kestra Advisory Services LLC Sells 45,773 Shares of Permian Resources Corporation $PR

Kestra Advisory Services LLC trimmed its position in Permian Resources Corporation (NYSE:PR) by 15.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 254,454 shares of the company’s stock after selling 45,773 shares during the quarter. Kestra Advisory Services LLC’s holdings in Permian Resources were worth $5,425,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Horizon Investments LLC grew its stake in Permian Resources by 80.8% during the 4th quarter. Horizon Investments LLC now owns 420,448 shares of the company’s stock worth $5,899,000 after buying an additional 187,903 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Permian Resources by 98.0% during the first quarter. Sterling Capital Management LLC now owns 168,262 shares of the company’s stock valued at $3,587,000 after acquiring an additional 83,302 shares in the last quarter. Jennison Associates LLC raised its position in shares of Permian Resources by 2.8% in the 4th quarter. Jennison Associates LLC now owns 3,818,742 shares of the company’s stock valued at $53,577,000 after purchasing an additional 105,396 shares during the last quarter. UBS Group AG boosted its stake in Permian Resources by 39.5% in the 4th quarter. UBS Group AG now owns 6,560,632 shares of the company’s stock worth $92,046,000 after purchasing an additional 1,858,992 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in Permian Resources by 2.8% during the 4th quarter. King Luther Capital Management Corp now owns 5,422,559 shares of the company’s stock worth $76,079,000 after purchasing an additional 146,836 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PR shares. Roth Capital set a $23.00 target price on Permian Resources and gave the company a “buy” rating in a research report on Monday, June 22nd. Morgan Stanley cut their price target on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Truist Financial dropped their price objective on shares of Permian Resources from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday. Evercore began coverage on shares of Permian Resources in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 target price for the company. Finally, Zacks Research cut Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of “Buy” and an average target price of $23.24.

Permian Resources Trading Up 0.2%

Shares of NYSE:PR opened at $19.62 on Thursday. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 22.82 and a beta of 0.46. The business’s 50 day moving average price is $19.44 and its 200-day moving average price is $18.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $0.44 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Permian Resources Corporation will post 1.89 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s payout ratio is presently 74.42%.

Insider Buying and Selling

In other news, EVP Guy M. Oliphint sold 62,769 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president directly owned 542,503 shares in the company, valued at $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.00% of the company’s stock.

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.