Hsbc Holdings PLC Has $3.29 Million Position in Permian Resources Corporation $PR

Hsbc Holdings PLC lifted its holdings in shares of Permian Resources Corporation (NYSE:PR) by 177.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,492 shares of the company’s stock after buying an additional 98,261 shares during the period. Hsbc Holdings PLC’s holdings in Permian Resources were worth $3,290,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Permian Resources by 4.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after acquiring an additional 607 shares during the last quarter. Waterloo Capital L.P. increased its position in shares of Permian Resources by 3.1% during the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after purchasing an additional 657 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Permian Resources by 5.4% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after purchasing an additional 706 shares in the last quarter. Dean Investment Associates LLC raised its stake in shares of 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 purchasing an additional 922 shares in the last quarter. Finally, Callahan Advisors LLC boosted its holdings in shares of Permian Resources by 4.8% in the 4th quarter. Callahan Advisors LLC now owns 22,093 shares of the company’s stock valued at $310,000 after buying an additional 1,004 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

NYSE PR opened at $21.34 on Friday. The stock has a market cap of $17.87 billion, a PE ratio of 24.82 and a beta of 0.46. 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 52-week low of $11.92 and a 52-week high of $22.67. The firm has a 50-day moving average of $19.51 and a 200-day moving average of $18.77.

Permian Resources (NYSE:PR) last issued 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 net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Permian Resources Corporation will post 1.94 EPS for the current year.

Permian Resources Announces Dividend

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

Insider Buying and Selling

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PR shares. Wells Fargo & Company set a $26.00 target price on shares of Permian Resources in a report on Monday, May 25th. Weiss Ratings downgraded shares of Permian Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. KeyCorp started coverage on shares of Permian Resources in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 target price for the company. Finally, Mizuho lifted their price target on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $23.29.

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.