Town & Country Bank & Trust CO dba First Bankers Trust CO Cuts Holdings in Permian Resources Co. (NYSE:PR)

Town & Country Bank & Trust CO dba First Bankers Trust CO trimmed its position in Permian Resources Co. (NYSE:PR) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,538 shares of the company’s stock after selling 1,555 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Permian Resources were worth $166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PR. Wright Investors Service Inc. acquired a new stake in Permian Resources in the 4th quarter valued at $498,000. Point72 Asset Management L.P. raised its holdings in shares of Permian Resources by 58.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after buying an additional 2,023,742 shares during the period. Tributary Capital Management LLC lifted its position in Permian Resources by 8,360.8% during the 3rd quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock worth $699,000 after acquiring an additional 50,750 shares in the last quarter. South Street Advisors LLC purchased a new position in Permian Resources in the 3rd quarter worth approximately $7,142,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Permian Resources during the third quarter valued at approximately $556,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Down 1.5 %

PR stock opened at $14.99 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $12.04 billion, a P/E ratio of 9.08, a P/E/G ratio of 4.60 and a beta of 4.32. Permian Resources Co. has a 52-week low of $12.59 and a 52-week high of $18.28. The company’s 50 day simple moving average is $14.97 and its 200-day simple moving average is $14.59.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. As a group, equities research analysts anticipate that Permian Resources Co. will post 1.44 EPS for the current year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a $0.15 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.00%. Permian Resources’s payout ratio is presently 36.36%.

Analysts Set New Price Targets

PR has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Morgan Stanley initiated coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Benchmark dropped their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average target price of $19.06.

Insider Buying and Selling at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.80% of the company’s stock.

About Permian Resources

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.