L. Roy Papp & Associates LLP Has $495,000 Stock Position in Permian Resources Co. (NYSE:PR)

L. Roy Papp & Associates LLP raised its position in shares of Permian Resources Co. (NYSE:PR) by 31.7% in the third quarter, HoldingsChannel reports. The fund owned 36,355 shares of the company’s stock after acquiring an additional 8,750 shares during the period. L. Roy Papp & Associates LLP’s holdings in Permian Resources were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PR. Vanguard Group Inc. increased its position in Permian Resources by 11.2% during the first quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company’s stock worth $949,189,000 after acquiring an additional 5,432,654 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Permian Resources by 480.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock worth $106,924,000 after purchasing an additional 5,012,287 shares during the period. Bank of New York Mellon Corp raised its position in shares of Permian Resources by 59.6% in the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock valued at $194,585,000 after buying an additional 4,497,184 shares in the last quarter. Merewether Investment Management LP boosted its stake in shares of Permian Resources by 148.1% in the second quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock valued at $95,292,000 after buying an additional 3,522,300 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Permian Resources by 16,359.8% during the second quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company’s stock worth $56,089,000 after buying an additional 3,451,923 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Down 1.4 %

Shares of NYSE:PR traded down $0.20 during mid-day trading on Friday, reaching $13.91. 22,683,883 shares of the company’s stock were exchanged, compared to its average volume of 10,149,149. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 0.83 and a beta of 4.32. The business’s fifty day moving average price is $13.96 and its 200-day moving average price is $15.32.

Permian Resources (NYSE:PR) last announced its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. On average, research analysts predict that Permian Resources Co. will post 1.48 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s payout ratio is presently 21.82%.

Insider Buying and Selling at Permian Resources

In other news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PR. Susquehanna dropped their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Wolfe Research initiated coverage on shares of Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. The Goldman Sachs Group initiated coverage on shares of Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 target price on the stock. BMO Capital Markets upgraded shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $18.73.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.