Permian Resources Corporation (PR) to Issue Quarterly Dividend of $0.16 on September 30th

Permian Resources Corporation (NYSE:PR) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.16 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Permian Resources has a dividend payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Permian Resources to earn $1.96 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 32.7%.

Permian Resources Trading Up 2.7%

Shares of PR stock opened at $20.33 on Friday. The stock has a 50 day simple moving average of $19.55 and a two-hundred day simple moving average of $19.21. The company has a market cap of $17.02 billion, a P/E ratio of 13.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. Permian Resources has a fifty-two week low of $11.92 and a fifty-two week high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 13.65% and a net margin of 21.52%.The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Research analysts forecast that Permian Resources will post 1.94 earnings per share for the current year.

Insider Buying and Selling at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Permian Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of Permian Resources by 69.2% during the first quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock valued at $2,060,000 after purchasing an additional 61,230 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Permian Resources by 18.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after buying an additional 852,347 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Permian Resources by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock valued at $16,751,000 after buying an additional 87,105 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Permian Resources by 340.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after buying an additional 3,224 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Permian Resources by 21.3% in the second quarter. Marshall Wace LLP now owns 93,507 shares of the company’s stock worth $1,274,000 after acquiring an additional 16,443 shares during the period. Institutional investors own 91.84% 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.