Permian Resources Corporation $PR Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in shares of Permian Resources Corporation (NYSE:PR) by 78.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,913 shares of the company’s stock after selling 325,118 shares during the period. Pacer Advisors Inc.’s holdings in Permian Resources were worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in Permian Resources by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock valued at $2,060,000 after acquiring an additional 61,230 shares during the period. Goldman Sachs Group Inc. boosted its position 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 worth $75,512,000 after acquiring an additional 852,347 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Permian Resources by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock worth $16,751,000 after purchasing an additional 87,105 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Permian Resources by 340.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Marshall Wace LLP grew its stake 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 purchasing an additional 16,443 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Evercore started coverage on shares of Permian Resources in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 target price on the stock. Raymond James Financial dropped their price target on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, June 17th. Citigroup reduced their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Permian Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Permian Resources currently has an average rating of “Buy” and an average target price of $23.29.

Permian Resources Stock Down 0.8%

NYSE PR opened at $20.11 on Friday. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67. The company has a market capitalization of $16.84 billion, a P/E ratio of 13.32 and a beta of 0.48. The company’s 50 day simple moving average is $19.57 and its 200 day simple moving average is $19.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.66.

Permian Resources (NYSE:PR) last posted 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. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts expect that Permian Resources Corporation will post 2.03 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources’s dividend payout ratio is currently 74.42%.

Insider Buying and Selling at Permian Resources

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

Permian Resources Company Profile

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.