Fidelis Capital Partners LLC Invests $227,000 in Permian Resources Co. (NASDAQ:PR)

Fidelis Capital Partners LLC bought a new position in Permian Resources Co. (NASDAQ:PRFree Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,876 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Permian Resources in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of Permian Resources during the first quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Permian Resources during the first quarter worth approximately $32,000. Parallel Advisors LLC boosted its holdings in shares of Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Permian Resources during the fourth quarter worth approximately $33,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Stock Up 0.9 %

Shares of NASDAQ:PR opened at $16.20 on Tuesday. Permian Resources Co. has a 52 week low of $10.59 and a 52 week high of $18.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.55 and a current ratio of 0.55. The company’s fifty day moving average is $16.09 and its 200-day moving average is $15.56. The company has a market capitalization of $12.47 billion, a PE ratio of 14.73, a P/E/G ratio of 0.63 and a beta of 4.37.

Permian Resources (NASDAQ:PRGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. Permian Resources had a net margin of 13.90% and a return on equity of 11.43%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. Equities research analysts predict that Permian Resources Co. will post 1.78 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Tuesday, May 21st were given a dividend of $0.06 per share. This is an increase from Permian Resources’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.24 annualized dividend and a yield of 1.48%. Permian Resources’s dividend payout ratio is 21.82%.

Insider Buying and Selling

In related news, Director Jeffrey Tepper sold 65,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total transaction of $1,067,300.00. Following the transaction, the director now owns 158,665 shares in the company, valued at approximately $2,605,279.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PR has been the subject of a number of analyst reports. Susquehanna lifted their target price on shares of Permian Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. BMO Capital Markets upgraded shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Wednesday, July 3rd. UBS Group upgraded shares of Permian Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $21.00 in a research note on Friday, June 14th. Raymond James started coverage on shares of Permian Resources in a research note on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of Permian Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Permian Resources currently has a consensus rating of “Buy” and an average price target of $20.36.

View Our Latest Report on PR

Permian Resources Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Permian Resources (NASDAQ:PR)

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