Unison Advisors LLC Acquires Shares of 49,208 Permian Resources Corporation $PR

Unison Advisors LLC bought a new position in shares of Permian Resources Corporation (NYSE:PR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,208 shares of the company’s stock, valued at approximately $690,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Permian Resources by 114.1% in the third quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock worth $25,000 after purchasing an additional 1,047 shares during the period. EverSource Wealth Advisors LLC lifted its position in Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after buying an additional 3,224 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Permian Resources during the 4th quarter valued at $60,000. Allworth Financial LP boosted its holdings in shares of Permian Resources by 18.7% during the 3rd quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock valued at $82,000 after buying an additional 1,015 shares in the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of Permian Resources by 237.6% in the 2nd quarter. Rakuten Securities Inc. now owns 7,106 shares of the company’s stock worth $97,000 after buying an additional 5,001 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Wells Fargo & Company upped their price objective on shares of Permian Resources from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Weiss Ratings raised shares of Permian Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 target price on shares of Permian Resources in a report on Thursday, February 26th. Finally, Bank of America reissued a “neutral” rating and issued a $16.00 price target (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.43.

Insider Buying and Selling

In related news, Director William J. Quinn sold 512,429 shares of Permian Resources stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $19.59, for a total value of $10,038,484.11. Following the completion of the sale, the director directly owned 6,914,410 shares in the company, valued at approximately $135,453,291.90. This trade represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Guy M. Oliphint sold 4,999 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.28, for a total transaction of $91,381.72. Following the transaction, the executive vice president owned 605,272 shares in the company, valued at $11,064,372.16. This represents a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,451,199 shares of company stock worth $76,844,698 in the last three months. 6.44% of the stock is currently owned by company insiders.

Permian Resources Price Performance

Shares of PR opened at $21.19 on Monday. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $21.99. The company has a market capitalization of $17.72 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 3.15 and a beta of 0.56. The firm has a 50 day moving average of $18.40 and a 200 day moving average of $15.29. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The company’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. As a group, equities research analysts anticipate that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. Permian Resources’s dividend payout ratio is currently 51.20%.

Permian Resources 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.