Impact Partnership Wealth LLC Has $983,000 Position in Permian Resources Corporation $PR

Impact Partnership Wealth LLC boosted its holdings in shares of Permian Resources Corporation (NYSE:PR) by 197.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 46,092 shares of the company’s stock after purchasing an additional 30,577 shares during the period. Impact Partnership Wealth LLC’s holdings in Permian Resources were worth $983,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Permian Resources by 69.2% during the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after purchasing an additional 61,230 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Permian Resources by 18.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after purchasing an additional 852,347 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Permian Resources by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock valued at $16,751,000 after purchasing an additional 87,105 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Permian Resources by 340.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Permian Resources by 21.3% in the second quarter. Marshall Wace LLP now owns 93,507 shares of the company’s stock worth $1,274,000 after purchasing an additional 16,443 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was 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. This trade represents a 10.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PR. Evercore began coverage on Permian Resources in a report on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 target price on the stock. TD Cowen upped their price target on Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Weiss Ratings downgraded Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Citigroup increased their price objective on Permian Resources from $21.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Mizuho raised their price objective on Permian Resources from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.53.

Permian Resources Price Performance

NYSE PR opened at $18.43 on Wednesday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The company has a fifty day simple moving average of $19.87 and a 200 day simple moving average of $18.11. 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 company has a market cap of $15.44 billion, a P/E ratio of 21.44 and a beta of 0.48.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. On average, sell-side analysts predict that Permian Resources Corporation will post 1.97 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.5%. Permian Resources’s dividend payout ratio is presently 74.42%.

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.