Mizuho Markets Americas LLC Sells 382,976 Shares of Permian Resources Corporation $PR

Mizuho Markets Americas LLC lowered its stake in Permian Resources Corporation (NYSE:PR) by 44.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 483,771 shares of the company’s stock after selling 382,976 shares during the quarter. Mizuho Markets Americas LLC owned 0.06% of Permian Resources worth $10,314,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. SHP Wealth Management bought a new position in shares of Permian Resources during the 4th quarter valued at $27,000. SJS Investment Consulting Inc. boosted its holdings in shares of Permian Resources by 1,862.5% in the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after buying an additional 1,341 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Permian Resources during the fourth quarter valued at approximately $39,000. State of Wyoming grew its position in Permian Resources by 126.8% during the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after buying an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC purchased a new stake in Permian Resources during the first quarter valued at approximately $48,000. Institutional investors own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the business’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 transaction, the executive vice president owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.00% of the company’s stock.

Permian Resources Price Performance

PR stock 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 firm has a market capitalization of $17.88 billion, a P/E ratio of 24.83 and a beta of 0.46. The company has a fifty day simple moving average of $19.50 and a two-hundred day simple moving average of $18.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31.

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

Permian Resources Announces Dividend

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

Wall Street Analyst Weigh In

PR has been the topic of several analyst reports. KeyCorp began coverage on shares of Permian Resources in a research note on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target on the stock. Truist Financial reduced their price objective on Permian Resources from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 13th. UBS Group lowered their price target on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Morgan Stanley dropped 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, June 29th. Finally, Mizuho upped their target price on shares of Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $23.29.

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.