Permian Resources Corporation $PR Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in Permian Resources Corporation (NYSE:PR) by 31.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 45,401 shares of the company’s stock after buying an additional 10,814 shares during the quarter. Penserra Capital Management LLC’s holdings in Permian Resources were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in Permian Resources by 29.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 843,407 shares of the company’s stock worth $11,681,000 after purchasing an additional 193,699 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Permian Resources by 114.2% during the first quarter. Nisa Investment Advisors LLC now owns 4,453 shares of the company’s stock worth $62,000 after purchasing an additional 2,374 shares in the last quarter. Allworth Financial LP boosted its position in shares of Permian Resources by 376.7% in the first quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock worth $29,000 after buying an additional 1,635 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Permian Resources in the first quarter valued at about $366,000. Finally, Xponance Inc. grew its stake in shares of Permian Resources by 2.2% in the first quarter. Xponance Inc. now owns 88,150 shares of the company’s stock valued at $1,221,000 after buying an additional 1,886 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Permian Resources stock opened at $13.56 on Wednesday. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.33. 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 stock has a market cap of $10.85 billion, a P/E ratio of 12.44 and a beta of 1.31. The stock has a 50 day moving average of $12.99 and a 200-day moving average of $13.36.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts expect that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. Permian Resources’s dividend payout ratio (DPR) is presently 55.05%.

Analyst Ratings Changes

Several research firms recently commented on PR. Raymond James Financial reduced their price target on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, September 2nd. Morgan Stanley boosted their target price on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Scotiabank began coverage on shares of Permian Resources in a research note on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 target price for the company. Wall Street Zen downgraded shares of Permian Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company cut their price objective on shares of Permian Resources from $21.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average target price of $18.73.

Insider Transactions at Permian Resources

In related news, EVP John Charles Bell sold 4,743 shares of Permian Resources stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the transaction, the executive vice president directly owned 107,569 shares in the company, valued at approximately $1,528,555.49. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Regan Shannon sold 4,742 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total value of $67,431.24. Following the sale, the executive vice president owned 91,805 shares in the company, valued at $1,305,467.10. The trade was a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 12.80% of the stock is currently owned by company insiders.

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.