Talon Private Wealth LLC Increases Stock Holdings in Permian Resources Corporation $PR

Talon Private Wealth LLC raised its position in shares of Permian Resources Corporation (NYSE:PR) by 24.6% in the second quarter, HoldingsChannel reports. The firm owned 150,347 shares of the company’s stock after buying an additional 29,650 shares during the quarter. Talon Private Wealth LLC’s holdings in Permian Resources were worth $2,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Permian Resources by 1.8% during the first quarter. Principal Financial Group Inc. now owns 4,733,183 shares of the company’s stock valued at $100,911,000 after buying an additional 85,509 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Permian Resources by 35.3% during the 1st quarter. Sanctuary Advisors LLC now owns 191,058 shares of the company’s stock worth $4,073,000 after acquiring an additional 49,798 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of Permian Resources by 2.8% during the 4th quarter. King Luther Capital Management Corp now owns 5,422,559 shares of the company’s stock worth $76,079,000 after acquiring an additional 146,836 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Permian Resources by 55.2% in the 4th quarter. HighTower Advisors LLC now owns 259,403 shares of the company’s stock worth $3,639,000 after purchasing an additional 92,309 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Permian Resources by 98.0% in the 1st quarter. Sterling Capital Management LLC now owns 168,262 shares of the company’s stock worth $3,587,000 after purchasing an additional 83,302 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PR shares. Stifel Nicolaus began coverage on Permian Resources in a research report on Thursday. They set a “buy” rating and a $30.00 target price on the stock. Zacks Research downgraded Permian Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $29.00 price objective on shares of Permian Resources in a research report on Thursday, August 27th. Mizuho upgraded Permian Resources to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Seaport Research Partners initiated coverage on shares of Permian Resources in a report on Thursday, September 3rd. They issued a “buy” rating and a $29.00 target price for the company. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $24.00.

Permian Resources Price Performance

Shares of PR traded up $0.07 during trading hours on Friday, reaching $23.77. 6,550,988 shares of the stock traded hands, compared to its average volume of 11,518,594. The company has a market cap of $19.91 billion, a P/E ratio of 15.75 and a beta of 0.49. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $21.43 and its two-hundred day moving average price is $20.37. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $24.20.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.66 billion. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%.Permian Resources’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. On average, analysts anticipate that Permian Resources Corporation will post 2.27 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. Permian Resources’s dividend payout ratio is 42.38%.

Insider Buying and Selling

In related news, EVP John Bell sold 5,492 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $130,435.00. Following the transaction, the executive vice president directly owned 1,561,680 shares of the company’s stock, valued at approximately $37,089,900. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Robert Shannon sold 5,104 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,220.00. Following the completion of the transaction, the executive vice president owned 1,346,698 shares of the company’s stock, valued at $31,984,077.50. The trade was a 0.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 15,699 shares of company stock worth $372,851. 5.00% of the stock is owned by corporate insiders.

About Permian Resources

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development and production of hydrocarbon resources in the Permian Basin. Its operations are concentrated in the Delaware and Midland basins of West Texas and southeastern New Mexico, where it develops primarily unconventional oil and natural gas properties.

The company’s production includes crude oil, natural gas and natural gas liquids. Permian Resources operates a portfolio of acreage and drilling locations and uses horizontal drilling and hydraulic fracturing technologies to develop its resources.