Aptus Capital Advisors LLC Acquires 107,219 Shares of Permian Resources Corporation $PR

Aptus Capital Advisors LLC boosted its holdings in shares of Permian Resources Corporation (NYSE:PR) by 137.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,506 shares of the company’s stock after purchasing an additional 107,219 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Permian Resources were worth $2,569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allworth Financial LP raised its position in shares of Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after buying an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Permian Resources in the first quarter worth about $30,000. Keystone Global Partners LLC bought a new stake in Permian Resources during the first quarter worth approximately $36,000. Brooklyn Investment Group raised its position in Permian Resources by 433.9% during the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock valued at $43,000 after purchasing an additional 2,534 shares during the period. Finally, Tsfg LLC bought a new stake in shares of Permian Resources in the 1st quarter valued at approximately $46,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PR. Raymond James Financial reissued a “strong-buy” rating and set a $23.00 target price (up previously from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. Royal Bank Of Canada boosted their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. UBS Group increased their target price on shares of Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen raised shares of Permian Resources to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Morgan Stanley upped their price target on shares of Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Permian Resources presently has an average rating of “Buy” and a consensus target price of $18.53.

Permian Resources Stock Up 1.9%

NYSE:PR opened at $13.3050 on Thursday. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 8.64 and a beta of 1.32. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $16.33. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $13.86 and a 200-day simple moving average of $13.34.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Permian Resources’s payout ratio is currently 38.96%.

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.