Permian Resources Corporation $PR Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB boosted its holdings in Permian Resources Corporation (NYSE:PR) by 204.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,825 shares of the company’s stock after buying an additional 2,568 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Permian Resources were worth $52,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its position in Permian Resources by 19.2% in the first 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 last quarter. Janney Montgomery Scott LLC grew its position in Permian Resources by 12.4% in the first quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company’s stock worth $444,000 after buying an additional 3,547 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Permian Resources by 8.5% in the first quarter. Crossmark Global Holdings Inc. now owns 28,385 shares of the company’s stock worth $393,000 after buying an additional 2,215 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Permian Resources by 27.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company’s stock worth $425,000 after buying an additional 6,600 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in Permian Resources during the 1st quarter worth approximately $174,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Mizuho lowered their price objective on shares of Permian Resources from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Susquehanna lifted their target price on shares of Permian Resources from $19.00 to $20.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Morgan Stanley lifted their target price on shares of Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. William Blair started coverage on shares of Permian Resources in a research note on Monday, August 25th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Permian Resources currently has an average rating of “Buy” and an average price target of $18.63.

Permian Resources Trading Down 2.4%

PR opened at $13.26 on Friday. The firm’s fifty day moving average is $13.70 and its two-hundred day moving average is $13.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $10.61 billion, a PE ratio of 8.61 and a beta of 1.42. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $16.33.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $1.20 billion during 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 firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

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 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 yield of 4.5%. Permian Resources’s dividend payout ratio (DPR) is currently 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.