Sigma Planning Corp Acquires Shares of 13,560 Permian Resources Co. (NASDAQ:PR)

Sigma Planning Corp bought a new position in shares of Permian Resources Co. (NASDAQ:PR) in the 4th quarter, Holdings Channel reports. The fund bought 13,560 shares of the company’s stock, valued at approximately $184,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of Permian Resources in the third quarter valued at approximately $460,000. Commonwealth Equity Services LLC raised its position in Permian Resources by 12.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 23,356 shares of the company’s stock worth $326,000 after buying an additional 2,582 shares during the last quarter. Xponance Inc. lifted its stake in shares of Permian Resources by 157.3% in the 3rd quarter. Xponance Inc. now owns 38,530 shares of the company’s stock worth $538,000 after acquiring an additional 23,555 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Permian Resources by 6.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,704 shares of the company’s stock worth $471,000 after acquiring an additional 2,063 shares during the period. Finally, Affinity Wealth Management LLC raised its holdings in Permian Resources by 9.5% during the third quarter. Affinity Wealth Management LLC now owns 292,034 shares of the company’s stock worth $4,077,000 after purchasing an additional 25,343 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $17.00 target price on shares of Permian Resources in a research report on Tuesday, April 23rd. Bank of America began coverage on Permian Resources in a research report on Friday, January 5th. They issued a “neutral” rating and a $15.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James started coverage on shares of Permian Resources in a report on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 price target for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.31.

Permian Resources Price Performance

PR stock opened at $17.54 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s 50 day moving average price is $16.75 and its 200 day moving average price is $14.73. The firm has a market cap of $13.54 billion, a P/E ratio of 13.17 and a beta of 4.35. Permian Resources Co. has a 1 year low of $8.94 and a 1 year high of $18.28.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. On average, sell-side analysts expect that Permian Resources Co. will post 1.66 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Tuesday, March 12th. Permian Resources’s dividend payout ratio is presently 17.24%.

Insider Activity at Permian Resources

In other news, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the sale, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Brent P. Jensen sold 1,853 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $27,127.92. Following the transaction, the chief accounting officer now directly owns 1,047,610 shares in the company, valued at approximately $15,337,010.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brent P. Jensen sold 84,554 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $14.96, for a total transaction of $1,264,927.84. Following the completion of the sale, the chief accounting officer now owns 932,325 shares of the company’s stock, valued at $13,947,582. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,916,943 shares of company stock valued at $516,796,999. Company insiders own 12.80% of the company’s stock.

About Permian Resources

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.