Sanctuary Advisors LLC Grows Position in Permian Resources Corporation $PR

Sanctuary Advisors LLC grew its position in shares of Permian Resources Corporation (NYSE:PR) by 35.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,058 shares of the company’s stock after purchasing an additional 49,798 shares during the quarter. Sanctuary Advisors LLC’s holdings in Permian Resources were worth $4,073,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PR. SJS Investment Consulting Inc. grew its position in Permian Resources by 1,862.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after buying an additional 1,341 shares during the period. SHP Wealth Management acquired a new position in shares of Permian Resources in the fourth quarter worth about $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Permian Resources in the first quarter worth about $48,000. Los Angeles Capital Management LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth about $39,000. Finally, State of Wyoming boosted its stake 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 acquiring an additional 1,640 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Down 0.0%

PR opened at $20.20 on Monday. Permian Resources Corporation has a twelve month low of $11.92 and a twelve month high of $22.67. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $19.44 and a 200 day moving average price of $18.56. The company has a market cap of $16.91 billion, a PE ratio of 23.49 and a beta of 0.46.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company posted $0.44 EPS. Permian Resources’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Permian Resources Corporation will post 1.93 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James Financial cut 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. Wells Fargo & Company set a $26.00 price objective on Permian Resources in a report on Monday, May 25th. Evercore initiated coverage on Permian Resources in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $25.00 price objective for the company. UBS Group reduced their target price on Permian Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday. Finally, Zacks Research lowered Permian Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Four equities research 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 company’s stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of “Buy” and an average price target of $23.29.

Insider Activity

In other news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 5.00% of the stock is owned by corporate insiders.

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.