Midwest Professional Planners LTD. Trims Stock Holdings in Permian Resources Corporation $PR

Midwest Professional Planners LTD. reduced its stake in Permian Resources Corporation (NYSE:PR) by 57.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,701 shares of the company’s stock after selling 40,714 shares during the period. Midwest Professional Planners LTD.’s holdings in Permian Resources were worth $431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Permian Resources by 340.8% during 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 during the period. FNY Investment Advisers LLC purchased a new stake in Permian Resources during the fourth quarter worth about $60,000. Farther Finance Advisors LLC increased its stake in Permian Resources by 126.1% during the fourth quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after purchasing an additional 2,477 shares during the period. Allworth Financial LP grew its position in shares of Permian Resources by 18.7% during the third quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock worth $82,000 after buying an additional 1,015 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Permian Resources during the fourth quarter worth about $82,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PR. Piper Sandler boosted their price objective on Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Truist Financial upped their price target on Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. KeyCorp assumed coverage on Permian Resources in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 price objective for the company. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their price objective on Permian Resources from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Permian Resources currently has a consensus rating of “Buy” and an average price target of $22.38.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, Director Aron Marquez sold 7,750 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total value of $152,055.00. Following the sale, the director directly owned 72,218 shares of the company’s stock, valued at approximately $1,416,917.16. This trade represents a 9.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James H. Walter sold 673,425 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $12,377,551.50. Following the completion of the sale, the chief executive officer directly owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,130,066 shares of company stock valued at $58,837,655. 5.00% of the stock is owned by company insiders.

Permian Resources Trading Up 1.5%

NYSE:PR opened at $21.24 on Wednesday. The stock has a fifty day moving average price of $20.44 and a two-hundred day moving average price of $16.94. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 24.70 and a beta of 0.52. 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 Corporation has a 1 year low of $11.92 and a 1 year high of $22.67.

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. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $0.44 earnings per share. Permian Resources’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Permian Resources Corporation will post 1.98 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. Permian Resources’s dividend payout ratio (DPR) is presently 74.42%.

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.