Permian Resources Corporation $PR Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its holdings in Permian Resources Corporation (NYSE:PR) by 35.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,058 shares of the company’s stock after purchasing an additional 49,798 shares during the quarter. Sanctuary Advisors LLC’s holdings in Permian Resources were worth $4,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PR. Bank of New York Mellon Corp increased its position in Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after buying an additional 13,483,136 shares in the last quarter. Boston Partners boosted its holdings in Permian Resources by 76.2% in the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock worth $222,099,000 after acquiring an additional 7,503,654 shares in the last quarter. Millennium Management LLC grew its stake in shares of Permian Resources by 210.6% during the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after acquiring an additional 6,678,814 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Permian Resources by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock worth $443,856,000 after acquiring an additional 4,533,732 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Permian Resources by 73.8% during the fourth quarter. Wellington Management Group LLP now owns 9,833,783 shares of the company’s stock valued at $137,968,000 after acquiring an additional 4,176,224 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. BMO Capital Markets raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. KeyCorp initiated coverage on shares of Permian Resources in a research report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 target price on the stock. Wells Fargo & Company set a $26.00 price target on shares of Permian Resources in a research note on Monday, May 25th. UBS Group decreased their price target on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday. Finally, Mizuho lifted their price objective on shares of Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $23.29.

Insider Buying and Selling at Permian Resources

In other Permian Resources 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 transaction of $1,282,998.36. Following the completion of the transaction, the executive vice president owned 542,503 shares in the company, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.00% of the company’s stock.

Permian Resources Stock Performance

Shares of NYSE PR opened at $20.20 on Monday. The company has a 50 day simple moving average of $19.44 and a two-hundred day simple moving average of $18.56. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 23.49 and a beta of 0.46. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping 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 analyst estimates of $1.41 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts predict that Permian Resources Corporation will post 1.93 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is currently 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.