Town & Country Bank & Trust CO dba First Bankers Trust CO Trims Stock Position in Permian Resources Co. (NYSE:PR)

Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its position in shares of Permian Resources Co. (NYSE:PR) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,538 shares of the company’s stock after selling 1,555 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Permian Resources were worth $166,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after buying an additional 1,998 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Permian Resources during the fourth quarter worth $31,000. UMB Bank n.a. grew its stake in shares of Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after buying an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of 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 buying an additional 800 shares during the period. Finally, Blue Trust Inc. lifted its stake in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction on Friday, January 3rd. The stock was 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 owns 134,617 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PR. Piper Sandler reduced their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley began coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price on the stock. Benchmark cut their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.06.

Permian Resources Stock Performance

NYSE PR opened at $14.99 on Tuesday. The business has a 50 day moving average price of $14.97 and a 200 day moving average price of $14.59. The company has a market capitalization of $12.04 billion, a P/E ratio of 9.08, a PEG ratio of 4.60 and a beta of 4.32. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. 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 earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion for 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%. Permian Resources’s quarterly revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. Sell-side analysts expect that Permian Resources Co. will post 1.44 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, November 14th. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.00%. Permian Resources’s payout ratio is 36.36%.

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.