Leeward Investments LLC MA Decreases Stock Holdings in Permian Resources Corporation $PR

Leeward Investments LLC MA lowered its stake in Permian Resources Corporation (NYSE:PR) by 3.3% in the first quarter, HoldingsChannel.com reports. The firm owned 1,931,383 shares of the company’s stock after selling 65,623 shares during the quarter. Permian Resources comprises 2.0% of Leeward Investments LLC MA’s investment portfolio, making the stock its 2nd largest position. Leeward Investments LLC MA’s holdings in Permian Resources were worth $41,177,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Krilogy Financial LLC acquired a new stake in shares of Permian Resources in the 1st quarter valued at $244,000. Signal Advisors Wealth LLC lifted its stake in shares of Permian Resources by 8.6% during the first quarter. Signal Advisors Wealth LLC now owns 19,922 shares of the company’s stock valued at $425,000 after acquiring an additional 1,573 shares during the period. Evolve Private Wealth LLC lifted its stake in shares of Permian Resources by 20.3% during the first quarter. Evolve Private Wealth LLC now owns 29,634 shares of the company’s stock valued at $632,000 after acquiring an additional 5,006 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Permian Resources during the fourth quarter valued at $774,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in Permian Resources by 6.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,063 shares of the company’s stock valued at $338,000 after acquiring an additional 1,498 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 0.9%

NYSE:PR opened at $19.17 on Wednesday. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. The business’s 50-day moving average price is $20.02 and its two-hundred day moving average price is $17.98. 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 capitalization of $16.05 billion, a price-to-earnings ratio of 22.29 and a beta of 0.48.

Permian Resources (NYSE:PR) last issued 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. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. On average, equities analysts expect that Permian Resources Corporation will post 2 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, June 16th. Permian Resources’s dividend payout ratio is 74.42%.

Wall Street Analysts Forecast Growth

PR has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Royal Bank Of Canada raised their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Truist Financial lifted their price target on shares of Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Company set a $26.00 price target on shares of Permian Resources in a research note on Monday, May 25th. Finally, Scotiabank increased their price objective on shares of Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.18.

Insider Activity

In related news, EVP Guy M. Oliphint sold 62,769 shares of the 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is owned by company insiders.

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.