2,133 Shares in Permian Resources Co. (NYSE:PR) Purchased by ORG Wealth Partners LLC

ORG Wealth Partners LLC acquired a new stake in Permian Resources Co. (NYSE:PR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,133 shares of the company’s stock, valued at approximately $31,000.

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

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.80% of the stock is owned by company insiders.

Permian Resources Trading Up 1.1 %

Shares of Permian Resources stock opened at $15.15 on Friday. Permian Resources Co. has a fifty-two week low of $12.59 and a fifty-two week high of $18.28. The business’s fifty day moving average is $14.79 and its two-hundred day moving average is $14.66. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.17 billion, a PE ratio of 9.18, a P/E/G ratio of 0.88 and a beta of 4.32.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $0.36 EPS. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. Analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current 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 was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.96%. 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%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Truist Financial raised their price objective on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company decreased their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. UBS Group dropped their price target on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Morgan Stanley began coverage on shares of Permian Resources in a research report on Friday. They issued an “overweight” rating and a $19.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.88.

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.