Eurizon Capital SGR S.p.A. Purchases New Shares in Permian Resources Corporation $PR

Eurizon Capital SGR S.p.A. purchased a new stake in shares of Permian Resources Corporation (NYSE:PR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 111,145 shares of the company’s stock, valued at approximately $1,560,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Permian Resources during the fourth quarter valued at $90,000. Savant Capital LLC grew its position in Permian Resources by 59.2% during the fourth quarter. Savant Capital LLC now owns 20,647 shares of the company’s stock valued at $290,000 after buying an additional 7,680 shares during the period. Geode Capital Management LLC grew its position in Permian Resources by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 13,291,523 shares of the company’s stock valued at $186,534,000 after buying an additional 382,777 shares during the period. King Luther Capital Management Corp grew its position in Permian Resources by 2.8% during the fourth quarter. King Luther Capital Management Corp now owns 5,422,559 shares of the company’s stock valued at $76,079,000 after buying an additional 146,836 shares during the period. Finally, Steel Grove Capital Advisors LLC acquired a new stake in Permian Resources during the fourth quarter valued at $184,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Performance

PR opened at $19.71 on Wednesday. The firm has a market capitalization of $16.51 billion, a PE ratio of 22.92 and a beta of 0.48. Permian Resources Corporation has a twelve month low of $11.92 and a twelve month high of $22.67. The firm’s 50-day moving average price is $20.55 and its 200 day moving average price is $17.39. 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 (NYSE:PR) last posted its quarterly earnings results 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. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. Permian Resources’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts expect that Permian Resources Corporation will post 2 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. Permian Resources’s payout ratio is presently 74.42%.

Insider Buying and Selling at Permian Resources

In related news, Director Aron Marquez sold 7,750 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00. Following the transaction, the director directly owned 72,218 shares in the company, valued at approximately $1,416,917.16. The trade was a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Quinn sold 800,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $19.15, for a total transaction of $15,320,000.00. Following the transaction, the director owned 7,426,839 shares in the company, valued at $142,223,966.85. The trade was a 9.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,438,198 shares of company stock valued at $27,865,280. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PR shares. Weiss Ratings lowered shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. TD Cowen raised their price target on shares of Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Truist Financial raised their price target on shares of Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Company set a $26.00 target price on shares of Permian Resources in a research report on Monday, May 25th. Finally, Royal Bank Of Canada lifted their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.