Cynosure Group LLC Buys Shares of 36,167 Permian Resources Corporation $PR

Cynosure Group LLC bought a new stake in shares of Permian Resources Corporation (NYSE:PR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 36,167 shares of the company’s stock, valued at approximately $507,000.

Several other hedge funds have also bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in shares of Permian Resources during the fourth quarter worth approximately $39,000. State of Wyoming boosted its stake in shares of Permian Resources by 126.8% in the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after purchasing an additional 1,640 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after purchasing an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Permian Resources during the 4th quarter valued at $60,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Permian Resources by 126.1% during the 4th quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock valued at $62,000 after purchasing an additional 2,477 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Activity at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the sale, the executive vice president owned 542,503 shares in the company, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. KeyCorp assumed coverage on shares of Permian Resources in a report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 target price on the stock. Piper Sandler increased their target price on shares of Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. BMO Capital Markets raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Finally, Scotiabank increased their target price on shares of Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

Permian Resources Stock Down 1.2%

Shares of Permian Resources stock opened at $18.67 on Wednesday. Permian Resources Corporation has a 12-month low of $11.92 and a 12-month high of $22.67. The company has a market cap of $15.64 billion, a P/E ratio of 21.71 and a beta of 0.48. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $20.22 and its two-hundred day simple moving average is $17.83.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts anticipate that Permian Resources Corporation will post 2.01 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 16th. Permian Resources’s payout ratio is 74.42%.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.