Saxon Interests Inc. Has $306,000 Stock Position in Permian Resources Co. (NYSE:PR)

Saxon Interests Inc. increased its position in Permian Resources Co. (NYSE:PR) by 59.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,313 shares of the company’s stock after buying an additional 7,973 shares during the period. Saxon Interests Inc.’s holdings in Permian Resources were worth $306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its stake in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares during the period. Avior Wealth Management LLC lifted its stake in Permian Resources by 0.9% in the third quarter. Avior Wealth Management LLC now owns 114,601 shares of the company’s stock valued at $1,560,000 after purchasing an additional 1,007 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Permian Resources by 9.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,939 shares of the company’s stock valued at $209,000 after purchasing an additional 1,147 shares during the period. Icon Wealth Advisors LLC grew its holdings in Permian Resources by 1.0% during the third quarter. Icon Wealth Advisors LLC now owns 130,880 shares of the company’s stock valued at $1,781,000 after purchasing an additional 1,349 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its position in Permian Resources by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 184,475 shares of the company’s stock worth $2,511,000 after buying an additional 1,370 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Up 0.6 %

NYSE:PR opened at $15.93 on Friday. The firm’s 50-day moving average price is $14.90 and its 200-day moving average price is $14.65. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The company has a market capitalization of $12.79 billion, a PE ratio of 9.66, a P/E/G ratio of 0.88 and a beta of 4.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources (NYSE:PR) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities analysts predict that Permian Resources Co. will post 1.44 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were issued a $0.15 dividend. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s payout ratio is presently 36.36%.

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

PR has been the topic of a number of research reports. Benchmark lowered their price objective on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler cut their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price objective on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Truist Financial increased their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group started coverage on shares of Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.06.

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.