Regent Peak Wealth Advisors LLC acquired a new stake in Permian Resources Co. (NYSE:PR – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,858 shares of the company’s stock, valued at approximately $185,000.
Other large investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its stake in shares of Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares during the period. UMB Bank n.a. increased its position in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after purchasing an additional 1,390 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after buying an additional 800 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of Permian Resources in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on PR. JPMorgan Chase & Co. reduced their target price on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. UBS Group reduced their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Benchmark lowered their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Mizuho decreased their price target on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.87.
Permian Resources Price Performance
Shares of PR stock remained flat at $14.94 during mid-day trading on Tuesday. The stock had a trading volume of 3,530,492 shares, compared to its average volume of 6,318,818. The stock has a market capitalization of $12.00 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.88 and a beta of 4.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The company has a fifty day simple moving average of $14.68 and a 200-day simple moving average of $14.66.
Permian Resources (NYSE:PR – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.32 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm’s revenue was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.
Permian Resources Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.02%. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.
About Permian Resources
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.
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