Voya Investment Management LLC Purchases 190,105 Shares of Permian Resources Corporation $PR

Voya Investment Management LLC increased its position in Permian Resources Corporation (NYSE:PR) by 58.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 515,771 shares of the company’s stock after purchasing an additional 190,105 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Permian Resources worth $7,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PR. Allworth Financial LP lifted its stake in shares of Permian Resources by 376.7% in the first quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after buying an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Permian Resources in the 1st quarter worth about $30,000. Keystone Global Partners LLC bought a new position in Permian Resources in the 1st quarter valued at about $36,000. Brooklyn Investment Group boosted its stake in Permian Resources by 433.9% during the 1st quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock valued at $43,000 after purchasing an additional 2,534 shares during the last quarter. Finally, Tsfg LLC bought a new stake in Permian Resources during the 1st quarter worth approximately $46,000. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 1.4%

NYSE:PR opened at $13.58 on Thursday. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $16.33. The stock’s fifty day moving average price is $13.73 and its two-hundred day moving average price is $13.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $10.87 billion, a P/E ratio of 8.82 and a beta of 1.42.

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

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued 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 payout ratio is presently 38.96%.

Insider Activity at Permian Resources

In other news, EVP John Charles Bell sold 4,743 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total transaction of $67,398.03. Following the sale, the executive vice president owned 107,569 shares in the company, valued at approximately $1,528,555.49. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Regan Shannon sold 4,742 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total transaction 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. This trade represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James Financial dropped their price objective on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research note on Tuesday, September 2nd. 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. Susquehanna lifted their price target on shares of Permian Resources from $19.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Permian Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.47.

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.