Permian Resources Corporation $PR Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its stake in Permian Resources Corporation (NYSE:PR) by 66.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,564,528 shares of the company’s stock after acquiring an additional 2,224,560 shares during the period. First Trust Advisors LP’s holdings in Permian Resources were worth $118,636,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PR. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Permian Resources by 4.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after acquiring an additional 607 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Permian Resources by 21.3% in the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock worth $76,000 after acquiring an additional 621 shares during the last quarter. Waterloo Capital L.P. lifted its holdings in shares of Permian Resources by 3.1% in the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after acquiring an additional 657 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Permian Resources by 5.4% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after purchasing an additional 706 shares during the period. Finally, Dean Investment Associates LLC boosted its position in shares of Permian Resources by 0.3% during the 4th quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock worth $3,727,000 after purchasing an additional 922 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Down 0.2%

Shares of NYSE:PR opened at $21.35 on Friday. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67. The company’s 50 day moving average is $19.50 and its two-hundred day moving average is $18.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The company has a market cap of $17.88 billion, a PE ratio of 24.83 and a beta of 0.46.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. Equities analysts predict that Permian Resources Corporation will post 1.94 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Permian Resources’s payout ratio is 74.42%.

Insider Transactions at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the completion of the transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This represents a 10.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PR shares. BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. KeyCorp initiated coverage on Permian Resources in a research note on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target on the stock. Morgan Stanley lowered their price target on Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Evercore initiated coverage on Permian Resources in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Truist Financial cut their price objective on Permian Resources from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $23.29.

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.