2,133 Shares in Permian Resources Co. (NYSE:PR) Bought by ORG Wealth Partners LLC

ORG Wealth Partners LLC purchased a new stake in Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,133 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its holdings in shares of Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after buying an additional 1,998 shares during the period. UMB Bank n.a. raised its stake in shares of Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares during the period. Blue Trust Inc. increased its stake in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after buying an additional 2,629 shares during the period. Finally, National Bank of Canada FI acquired a new position in Permian Resources in the 3rd quarter worth $45,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.80% of the stock is owned by company insiders.

Permian Resources Price Performance

Shares of NYSE PR opened at $15.15 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $12.17 billion, a PE ratio of 9.18, a P/E/G ratio of 0.88 and a beta of 4.32. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The business’s fifty day moving average price is $14.79 and its two-hundred day moving average price is $14.66.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $0.36 EPS. Permian Resources’s quarterly revenue was up 60.3% compared to the same quarter last year. On average, research analysts expect that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a $0.15 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PR. Morgan Stanley assumed coverage on Permian Resources in a research note on Friday. They set an “overweight” rating and a $19.00 target price for the company. Piper Sandler dropped their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Wells Fargo & Company reduced their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. The Goldman Sachs Group initiated coverage on shares of Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Mizuho decreased their price objective on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.88.

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.