Charles Schwab Investment Management Inc. Grows Stock Position in Permian Resources Corporation (NYSE:PR)

Charles Schwab Investment Management Inc. boosted its position in Permian Resources Corporation (NYSE:PR) by 6.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,618,751 shares of the company’s stock after buying an additional 278,878 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.57% of Permian Resources worth $63,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PR. Allworth Financial LP boosted its position in Permian Resources by 376.7% during the first quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock worth $29,000 after purchasing an additional 1,635 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in Permian Resources during the first quarter worth about $30,000. Tsfg LLC bought a new position in Permian Resources during the first quarter worth about $46,000. Hexagon Capital Partners LLC boosted its position in Permian Resources by 30.8% during the first quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company’s stock worth $54,000 after purchasing an additional 921 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Permian Resources by 114.2% during the first quarter. Nisa Investment Advisors LLC now owns 4,453 shares of the company’s stock worth $62,000 after purchasing an additional 2,374 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. The Goldman Sachs Group raised their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Royal Bank Of Canada raised their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Raymond James Financial restated a “strong-buy” rating and issued a $23.00 price objective (up from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. Finally, Susquehanna raised their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and an average price target of $18.53.

Permian Resources Trading Up 0.6%

PR stock opened at $13.55 on Friday. The company has a market capitalization of $10.88 billion, a PE ratio of 8.80 and a beta of 1.32. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.33. The company’s 50 day moving average price is $13.91 and its two-hundred day moving average price is $13.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.63.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. As a group, analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. Permian Resources’s dividend payout ratio (DPR) is 38.96%.

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.