Allworth Financial LP Has $29,000 Position in Permian Resources Corporation (NYSE:PR)

Allworth Financial LP increased its holdings in shares of Permian Resources Corporation (NYSE:PR) by 376.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,069 shares of the company’s stock after purchasing an additional 1,635 shares during the period. Allworth Financial LP’s holdings in Permian Resources were worth $29,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. OneDigital Investment Advisors LLC raised its holdings in Permian Resources by 19.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 19,274 shares of the company’s stock worth $267,000 after buying an additional 3,107 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Permian Resources by 12.4% during the first quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company’s stock worth $444,000 after acquiring an additional 3,547 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Permian Resources by 8.5% during the first quarter. Crossmark Global Holdings Inc. now owns 28,385 shares of the company’s stock worth $393,000 after acquiring an additional 2,215 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Permian Resources by 27.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company’s stock worth $425,000 after acquiring an additional 6,600 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in Permian Resources in the 1st quarter valued at $174,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Trading Down 0.7%

NYSE PR opened at $13.45 on Friday. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $13.72 and a 200-day moving average of $13.60. The company has a market cap of $10.81 billion, a PE ratio of 8.30 and a beta of 1.25.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.15 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.46%. Permian Resources’s dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analyst Weigh In

PR has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 16th. TD Cowen upgraded Permian Resources to a “strong-buy” rating in a report on Monday, July 7th. Susquehanna dropped their target price on Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada boosted their target price on Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Bank of America raised their price target on shares of Permian Resources from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $18.40.

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.