Nisa Investment Advisors LLC Grows Stock Holdings in Permian Resources Corporation (NYSE:PR)

Nisa Investment Advisors LLC grew its stake in shares of Permian Resources Corporation (NYSE:PR) by 114.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,453 shares of the company’s stock after acquiring an additional 2,374 shares during the period. Nisa Investment Advisors LLC’s holdings in Permian Resources were worth $62,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp lifted its holdings in Permian Resources by 58.3% during the 1st quarter. M&T Bank Corp now owns 85,060 shares of the company’s stock worth $1,179,000 after purchasing an additional 31,318 shares in the last quarter. Crossmark Global Holdings Inc. increased its position 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 valued at $393,000 after buying an additional 2,215 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Permian Resources by 29.8% in the first quarter. Envestnet Asset Management Inc. now owns 843,407 shares of the company’s stock worth $11,681,000 after buying an additional 193,699 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Permian Resources by 30.8% in the first quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company’s stock valued at $54,000 after acquiring an additional 921 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of Permian Resources by 32.6% in the first quarter. Penserra Capital Management LLC now owns 34,587 shares of the company’s stock valued at $479,000 after acquiring an additional 8,498 shares during the period. 91.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PR shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $23.00 target price (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. The Goldman Sachs Group increased their price objective on Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. UBS Group boosted their target price on Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Wells Fargo & Company decreased their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, June 16th. Finally, Bank of America lifted their price target on Permian Resources from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $18.40.

Permian Resources Stock Down 0.7%

Shares of NYSE PR opened at $13.45 on Friday. The stock has a market capitalization of $10.81 billion, a P/E ratio of 8.30 and a beta of 1.25. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.33. The firm’s 50 day simple moving average is $13.72 and its two-hundred day simple moving average is $13.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. Permian Resources’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. As a group, analysts expect that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

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

Permian Resources Profile

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.