UMB Bank n.a. Purchases 778 Shares of Permian Resources Corporation $PR

UMB Bank n.a. raised its position in shares of Permian Resources Corporation (NYSE:PR) by 12.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,953 shares of the company’s stock after buying an additional 778 shares during the period. UMB Bank n.a.’s holdings in Permian Resources were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PR. OneDigital Investment Advisors LLC increased its holdings in Permian Resources by 19.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 19,274 shares of the company’s stock valued at $267,000 after purchasing an additional 3,107 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Permian Resources by 12.4% during the first quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company’s stock worth $444,000 after purchasing an additional 3,547 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Permian Resources by 8.5% in 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 in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Permian Resources by 27.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company’s stock valued at $425,000 after buying an additional 6,600 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Permian Resources in the first quarter valued at about $174,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Permian Resources

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Mizuho decreased their price objective on shares of Permian Resources from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Raymond James Financial decreased their price target on shares of 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. William Blair began coverage on shares of Permian Resources in a report on Monday, August 25th. They issued an “outperform” rating for the company. UBS Group upped their price objective on Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Morgan Stanley increased their price objective on Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Permian Resources currently has an average rating of “Buy” and an average target price of $18.63.

Permian Resources Price Performance

Shares of PR stock opened at $13.67 on Thursday. The firm’s 50 day moving average price is $13.70 and its two-hundred day moving average price is $13.31. 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 Corporation has a 52-week low of $10.01 and a 52-week high of $16.33. The stock has a market cap of $10.94 billion, a PE ratio of 8.87 and a beta of 1.42.

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

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 16th. Permian Resources’s payout ratio 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.