Regent Peak Wealth Advisors LLC Purchases New Stake in Permian Resources Co. (NYSE:PR)

Regent Peak Wealth Advisors LLC acquired a new position in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, HoldingsChannel reports. The fund acquired 12,858 shares of the company’s stock, valued at approximately $185,000.

Several other large investors also recently made changes to their positions in PR. Merewether Investment Management LP raised its position in Permian Resources by 148.1% in the second quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock valued at $95,292,000 after purchasing an additional 3,522,300 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Permian Resources by 16,359.8% in the second quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company’s stock valued at $56,089,000 after buying an additional 3,451,923 shares in the last quarter. Yaupon Capital Management LP raised its holdings in shares of Permian Resources by 225.0% during the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after buying an additional 2,595,137 shares during the period. Geode Capital Management LLC lifted its position in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after acquiring an additional 1,638,618 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Permian Resources by 20.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock worth $147,107,000 after acquiring an additional 1,555,884 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of Permian Resources stock remained flat at $14.94 on Tuesday. 3,530,492 shares of the stock traded hands, compared to its average volume of 6,318,818. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a fifty-two week low of $12.59 and a fifty-two week high of $18.28. The stock’s 50-day moving average is $14.68 and its 200-day moving average is $14.66. The company has a market cap of $12.00 billion, a P/E ratio of 9.05, a PEG ratio of 0.88 and a beta of 4.32.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is presently 36.36%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PR. Piper Sandler dropped their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group dropped their price target on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. Truist Financial lifted their target price on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Mizuho reduced their price target on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.87.

Permian Resources 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.