Permian Resources Corporation $PR Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its holdings in shares of Permian Resources Corporation (NYSE:PR) by 3.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,931,383 shares of the company’s stock after selling 65,623 shares during the period. Permian Resources makes up about 2.0% of Leeward Investments LLC MA’s investment portfolio, making the stock its 2nd biggest position. Leeward Investments LLC MA owned 0.23% of Permian Resources worth $41,177,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. SHP Wealth Management acquired a new position in Permian Resources in the fourth quarter worth about $27,000. Los Angeles Capital Management LLC bought a new stake in shares of Permian Resources in the 4th quarter valued at approximately $39,000. State of Wyoming grew 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 during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Permian Resources by 340.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after buying an additional 3,224 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Permian Resources during the 4th quarter worth approximately $60,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Up 0.9%

NYSE PR opened at $19.17 on Wednesday. The firm has a market cap of $16.05 billion, a PE ratio of 22.29 and a beta of 0.48. Permian Resources Corporation has a one year low of $11.92 and a one year high of $22.67. The stock’s 50 day simple moving average is $20.02 and its 200 day simple moving average is $17.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. As a group, sell-side analysts forecast that Permian Resources Corporation will post 2 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

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 paid a $0.16 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Analyst Upgrades and Downgrades

PR has been the topic of several recent analyst reports. UBS Group boosted their price target on Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. The Goldman Sachs Group increased their price objective on Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Zacks Research downgraded shares of Permian Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Raymond James Financial dropped their target price on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Wednesday, June 17th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.18.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.00% of the company’s stock.

About Permian Resources

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.