1,441,273 Shares in Permian Resources Corporation $PR Acquired by Keybank National Association OH

Keybank National Association OH purchased a new position in Permian Resources Corporation (NYSE:PR) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,441,273 shares of the company’s stock, valued at approximately $30,728,000. Keybank National Association OH owned 0.17% of Permian Resources as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted 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 worth $224,000 after purchasing an additional 607 shares in the last quarter. Waterloo Capital L.P. grew its holdings in Permian Resources by 3.1% during the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after purchasing an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Permian Resources by 5.4% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after purchasing an additional 706 shares in the last quarter. Curated Wealth Partners LLC grew its holdings in Permian Resources by 1.1% during the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after purchasing an additional 747 shares in the last quarter. Finally, Dean Investment Associates LLC increased its stake in 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 buying an additional 922 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Ratings Changes

PR has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Evercore initiated coverage on Permian Resources in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 target price on the stock. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Wells Fargo & Company set a $26.00 price target on Permian Resources in a report on Monday, May 25th. Finally, Morgan Stanley lowered their price objective on Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Permian Resources presently has a consensus rating of “Buy” and a consensus price target of $23.53.

Permian Resources Trading Down 0.0%

NYSE PR opened at $18.20 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 debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 21.16 and a beta of 0.46. The company’s fifty day moving average price is $19.76 and its two-hundred day moving average price is $18.16.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. As a group, research analysts predict that Permian Resources Corporation will post 1.97 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 paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Insiders Place Their Bets

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president 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 SEC, which is available through this link. 5.00% of the stock is currently owned by corporate 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.