Permian Resources Corporation $PR Stock Position Raised by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC increased its stake in Permian Resources Corporation (NYSE:PR) by 197.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,092 shares of the company’s stock after acquiring an additional 30,577 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Permian Resources were worth $983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MQS Management LLC acquired a new position in shares of Permian Resources in the 1st quarter valued at $491,000. SevenBridge Financial Group LLC raised its holdings in Permian Resources by 2.2% during the 1st quarter. SevenBridge Financial Group LLC now owns 291,080 shares of the company’s stock worth $5,915,000 after buying an additional 6,371 shares during the period. SJS Investment Consulting Inc. lifted its stake in Permian Resources by 1,862.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after buying an additional 1,341 shares in the last quarter. Inspire Investing LLC purchased a new stake in Permian Resources during the first quarter valued at about $1,737,000. Finally, Apollon Wealth Management LLC purchased a new stake in Permian Resources during the first quarter valued at about $313,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 542,503 shares in the company, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.00% of the company’s stock.

Permian Resources Price Performance

NYSE PR opened at $18.43 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 21.44 and a beta of 0.48. The company has a 50 day simple moving average of $19.87 and a 200-day simple moving average of $18.11. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. Equities research analysts predict that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.5%. Permian Resources’s dividend payout ratio is 74.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Benchmark lowered shares of Permian Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. KeyCorp started coverage on shares of Permian Resources in a research report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Finally, Raymond James Financial reduced their target price on Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.53.

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.