Saxon Interests Inc. Purchases 7,973 Shares of Permian Resources Co. (NYSE:PR)

Saxon Interests Inc. raised its position in shares of Permian Resources Co. (NYSE:PR) by 59.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,313 shares of the company’s stock after purchasing an additional 7,973 shares during the quarter. Saxon Interests Inc.’s holdings in Permian Resources were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its position in shares of Permian Resources by 36.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 34,345 shares of the company’s stock valued at $494,000 after purchasing an additional 9,165 shares in the last quarter. Richard P Slaughter Associates Inc increased its stake in Permian Resources by 1.2% in the 4th quarter. Richard P Slaughter Associates Inc now owns 301,003 shares of the company’s stock worth $4,328,000 after acquiring an additional 3,474 shares during the last quarter. Wright Investors Service Inc. purchased a new stake in shares of Permian Resources during the 4th quarter worth approximately $498,000. Wedmont Private Capital boosted its position in shares of Permian Resources by 13.1% during the 4th quarter. Wedmont Private Capital now owns 16,541 shares of the company’s stock valued at $250,000 after acquiring an additional 1,915 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Permian Resources in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 0.6 %

NYSE:PR opened at $15.93 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $14.90 and a 200-day simple moving average of $14.65. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The company has a market capitalization of $12.79 billion, a P/E ratio of 9.66, a PEG ratio of 0.88 and a beta of 4.32.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s revenue was up 60.3% on a year-over-year basis. On average, equities research analysts anticipate that Permian Resources Co. will post 1.44 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a yield of 3.77%. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PR shares. Truist Financial lifted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley started coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Finally, Benchmark cut their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.06.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.80% of the company’s stock.

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.