Corient Private Wealth LLC Increases Stake in Permian Resources Corporation $PR

Corient Private Wealth LLC increased its stake in Permian Resources Corporation (NYSE:PR) by 80.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 80,764 shares of the company’s stock after buying an additional 35,905 shares during the period. Corient Private Wealth LLC’s holdings in Permian Resources were worth $1,133,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PR. SHP Wealth Management acquired a new position in Permian Resources in the fourth quarter valued at $27,000. Los Angeles Capital Management LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth about $39,000. State of Wyoming grew its holdings in shares of Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after purchasing an additional 1,640 shares during the period. EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 3,224 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Permian Resources during the 4th quarter worth approximately $60,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. UBS Group raised their target price on shares of Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Zacks Research lowered shares of Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Mizuho upped their price target on shares of Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group increased their price target on Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $23.53.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the company’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 transaction of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This represents a 10.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.

Permian Resources Price Performance

PR opened at $17.91 on Thursday. The company has a fifty day simple moving average of $19.84 and a 200 day simple moving average of $18.13. 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 firm has a market cap of $15.00 billion, a price-to-earnings ratio of 20.83 and a beta of 0.46. Permian Resources Corporation has a twelve month low of $11.92 and a twelve month high of $22.67.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) 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 business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Permian Resources Corporation will post 1.97 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) 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.