Permian Resources Corporation $PR Stake Lowered by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its holdings in Permian Resources Corporation (NYSE:PR) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,997,006 shares of the company’s stock after selling 53,064 shares during the period. Permian Resources accounts for about 1.4% of Leeward Investments LLC MA’s investment portfolio, making the stock its 10th biggest holding. Leeward Investments LLC MA’s holdings in Permian Resources were worth $28,018,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after buying an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Permian Resources during the 4th quarter worth approximately $60,000. Farther Finance Advisors LLC grew its stake in Permian Resources by 126.1% during the 4th quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after buying an additional 2,477 shares during the last quarter. LRI Investments LLC purchased a new position in Permian Resources during the 4th quarter worth approximately $82,000. Finally, Allworth Financial LP grew its stake in Permian Resources by 18.7% during the 3rd quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock worth $82,000 after buying an additional 1,015 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Down 0.1%

Permian Resources stock opened at $20.22 on Friday. Permian Resources Corporation has a twelve month low of $11.92 and a twelve month high of $22.67. The stock has a 50 day moving average of $20.30 and a two-hundred day moving average of $16.76. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $16.91 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.11 and a beta of 0.52.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts expect that Permian Resources Corporation will post 1.97 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is presently 74.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PR shares. Truist Financial raised their price target on Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Citigroup raised their price target on Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Benchmark downgraded Permian Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Morgan Stanley restated an “overweight” rating on shares of Permian Resources in a research note on Friday, March 27th. Finally, Scotiabank raised their price target on Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.38.

Insider Activity at Permian Resources

In other news, Director Jeffrey Tepper sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $19.38, for a total value of $969,000.00. Following the completion of the sale, the director directly owned 150,546 shares of the company’s stock, valued at $2,917,581.48. This trade represents a 24.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Quinn sold 512,429 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $19.59, for a total value of $10,038,484.11. Following the completion of the sale, the director directly owned 6,914,410 shares of the company’s stock, valued at $135,453,291.90. This represents a 6.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,130,066 shares of company stock worth $58,837,655 in the last ninety days. Company insiders own 5.00% of the company’s stock.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.