Allspring Global Investments Holdings LLC Has $7.05 Million Stock Holdings in Permian Resources Corporation $PR

Allspring Global Investments Holdings LLC lowered its stake in shares of Permian Resources Corporation (NYSE:PR) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 550,577 shares of the company’s stock after selling 155,465 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Permian Resources worth $7,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in shares of Permian Resources by 114.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock worth $25,000 after buying an additional 1,047 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Permian Resources by 154.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after purchasing an additional 1,391 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Permian Resources during the second quarter valued at approximately $36,000. Parkside Financial Bank & Trust grew its position in shares of Permian Resources by 90.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after buying an additional 1,357 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Permian Resources by 204.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock worth $52,000 after acquiring an additional 2,568 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PR. Wells Fargo & Company decreased their price objective on shares of Permian Resources from $21.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 17th. The Goldman Sachs Group lifted their price target on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Morgan Stanley reissued an “overweight” rating on shares of Permian Resources in a research note on Thursday, November 20th. Scotiabank began coverage on shares of Permian Resources in a research note on Friday, September 19th. They set a “sector outperform” rating and a $21.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Permian Resources in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.07.

Permian Resources Price Performance

PR stock opened at $13.60 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $11.27 billion, a PE ratio of 12.47 and a beta of 0.66. The business’s fifty day moving average price is $13.88 and its 200 day moving average price is $13.61. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.03.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.22). Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Permian Resources’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate 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 was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were 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 of this dividend was Wednesday, December 17th. Permian Resources’s dividend payout ratio is currently 55.05%.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.