Permian Resources Co. (NASDAQ:PR) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in shares of Permian Resources Co. (NASDAQ:PRFree Report) by 94.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,543 shares of the company’s stock after acquiring an additional 24,016 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Permian Resources were worth $875,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV increased its holdings in shares of Permian Resources by 2.0% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after purchasing an additional 740 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Permian Resources by 9.4% during the 4th quarter. Truist Financial Corp now owns 12,653 shares of the company’s stock valued at $172,000 after purchasing an additional 1,086 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after purchasing an additional 1,178 shares in the last quarter. Navellier & Associates Inc. increased its holdings in shares of Permian Resources by 11.3% during the 4th quarter. Navellier & Associates Inc. now owns 11,688 shares of the company’s stock valued at $159,000 after purchasing an additional 1,187 shares in the last quarter. Finally, NBC Securities Inc. grew its stake in Permian Resources by 3.4% in the 1st quarter. NBC Securities Inc. now owns 39,257 shares of the company’s stock valued at $693,000 after acquiring an additional 1,282 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Up 0.9 %

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 quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $16.09 and its 200-day simple moving average is $15.56. The firm has a market cap of $12.47 billion, a PE ratio of 11.46, a P/E/G ratio of 0.63 and a beta of 4.37.

Permian Resources (NASDAQ:PRGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Permian Resources had a return on equity of 11.43% and a net margin of 13.90%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. As a group, equities analysts anticipate that Permian Resources Co. will post 1.78 earnings per share for the current year.

Permian Resources Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PR. Raymond James began 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 target on the stock. Mizuho lifted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Stifel Nicolaus lifted their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Piper Sandler lifted their price target on shares of Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.36.

Get Our Latest Stock Report on PR

Insider Activity at Permian Resources

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

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.

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

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