Louisiana State Employees Retirement System Buys Shares of 214,700 Permian Resources Corporation $PR

Louisiana State Employees Retirement System bought a new position in Permian Resources Corporation (NYSE:PR) in the 1st quarter, Holdings Channel.com reports. The fund bought 214,700 shares of the company’s stock, valued at approximately $4,577,000.

Other hedge funds also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Permian Resources by 4.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after purchasing an additional 607 shares in the last quarter. Waterloo Capital L.P. increased its position in Permian Resources by 3.1% during the fourth quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after buying an additional 657 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in Permian Resources by 5.4% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after buying an additional 706 shares during the last quarter. Curated Wealth Partners LLC raised its holdings in Permian Resources by 1.1% during the fourth quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after buying an additional 747 shares in the last quarter. Finally, Dean Investment Associates LLC raised its holdings in Permian Resources by 0.3% during the fourth quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock valued at $3,727,000 after buying an additional 922 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the sale, the executive vice president owned 542,503 shares of the company’s stock, valued at $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PR. Raymond James Financial decreased their price target on Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, June 17th. Benchmark downgraded Permian Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Piper Sandler boosted their target price on Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Mizuho boosted their target price on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Buy” and an average target price of $23.18.

Permian Resources Stock Performance

Shares of NYSE PR opened at $18.65 on Friday. The firm has a market capitalization of $15.61 billion, a price-to-earnings ratio of 21.68 and a beta of 0.48. Permian Resources Corporation has a one year low of $11.92 and a one year high of $22.67. The business has a fifty day simple moving average of $19.93 and a 200 day simple moving average of $18.04. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last posted its quarterly earnings results 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. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. Sell-side analysts expect that Permian Resources Corporation will post 2 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 16th. Permian Resources’s payout ratio is 74.42%.

Permian Resources Company Profile

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.