Vident Advisory LLC Purchases 1,019 Shares of Permian Resources Corporation $PR

Vident Advisory LLC raised its position in shares of Permian Resources Corporation (NYSE:PR) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,321 shares of the company’s stock after buying an additional 1,019 shares during the quarter. Vident Advisory LLC’s holdings in Permian Resources were worth $157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Permian Resources during the 4th quarter worth approximately $431,676,000. Dimensional Fund Advisors LP grew its holdings in Permian Resources by 19.4% in the first quarter. Dimensional Fund Advisors LP now owns 14,099,726 shares of the company’s stock worth $195,276,000 after purchasing an additional 2,286,363 shares during the last quarter. Nuveen LLC purchased a new position in Permian Resources in the first quarter worth $175,525,000. Invesco Ltd. increased its position in shares of Permian Resources by 8.9% during the first quarter. Invesco Ltd. now owns 8,622,575 shares of the company’s stock worth $119,423,000 after purchasing an additional 701,825 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Permian Resources by 33.1% during the 1st quarter. Principal Financial Group Inc. now owns 6,620,604 shares of the company’s stock valued at $91,695,000 after purchasing an additional 1,647,487 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America boosted their target price on Permian Resources from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Morgan Stanley raised their price target on Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. William Blair started coverage on Permian Resources in a research note on Monday, August 25th. They set an “outperform” rating on the stock. UBS Group increased their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.47.

Insider Activity

In other news, EVP Robert Regan Shannon sold 4,742 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the transaction, the executive vice president owned 91,805 shares of the company’s stock, valued at $1,305,467.10. The trade was a 4.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Charles Bell sold 4,743 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the sale, the executive vice president directly owned 107,569 shares in the company, valued at approximately $1,528,555.49. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.44% of the company’s stock.

Permian Resources Stock Performance

Shares of NYSE PR opened at $14.22 on Thursday. The company has a 50 day simple moving average of $13.79 and a two-hundred day simple moving average of $13.29. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 9.23 and a beta of 1.42. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33.

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

Permian Resources Announces Dividend

The business also recently disclosed 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 is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.2%. Permian Resources’s dividend payout ratio (DPR) is presently 38.96%.

Permian Resources Company 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.