Permian Resources Corporation $PR Shares Sold by Sharpepoint LLC

Sharpepoint LLC lessened its holdings in Permian Resources Corporation (NYSE:PR) by 21.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,466 shares of the company’s stock after selling 34,685 shares during the period. Permian Resources accounts for approximately 1.6% of Sharpepoint LLC’s portfolio, making the stock its 24th largest holding. Sharpepoint LLC’s holdings in Permian Resources were worth $2,739,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Permian Resources by 4.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after purchasing an additional 607 shares during the last quarter. Waterloo Capital L.P. raised its holdings in shares of Permian Resources by 3.1% in the fourth quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after acquiring an additional 657 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Permian Resources by 5.4% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after acquiring an additional 706 shares during the last quarter. Curated Wealth Partners LLC lifted its position in shares of Permian Resources by 1.1% in the fourth quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after acquiring an additional 747 shares in the last quarter. Finally, Dean Investment Associates LLC lifted its position in shares of Permian Resources by 0.3% in the fourth quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock valued at $3,727,000 after acquiring an additional 922 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company set a $26.00 price objective on Permian Resources in a research report on Monday, May 25th. Roth Capital set a $23.00 target price on shares of Permian Resources and gave the company a “buy” rating in a report on Monday, June 22nd. Weiss Ratings cut shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Raymond James Financial lowered their price target on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, June 17th. Finally, Citigroup cut their price objective on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Permian Resources currently has a consensus rating of “Buy” and an average price target of $23.24.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.

Permian Resources Price Performance

Shares of NYSE:PR opened at $19.62 on Thursday. The company has a market cap of $16.43 billion, a P/E ratio of 22.82 and a beta of 0.46. The business has a fifty day simple moving average of $19.44 and a 200-day simple moving average of $18.48. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that Permian Resources Corporation will post 1.89 EPS for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio is presently 74.42%.

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.