1,441,273 Shares in Permian Resources Corporation $PR Bought by Keybank National Association OH

Keybank National Association OH acquired a new position in Permian Resources Corporation (NYSE:PR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,441,273 shares of the company’s stock, valued at approximately $30,728,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SHP Wealth Management acquired a new stake in shares of Permian Resources during the fourth quarter worth $27,000. SJS Investment Consulting Inc. boosted its holdings in shares of Permian Resources by 1,862.5% in the 1st 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. Los Angeles Capital Management LLC acquired a new position in shares of Permian Resources in the 4th quarter valued at about $39,000. State of Wyoming grew its position 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 valued at $41,000 after buying an additional 1,640 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after buying an additional 3,224 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the business’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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PR has been the topic of a number of recent research reports. Weiss Ratings cut shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Truist Financial upped their target price on Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Scotiabank raised their price target on Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Roth Mkm set a $23.00 price target on Permian Resources and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Citigroup boosted their price objective on Permian Resources from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources has an average rating of “Buy” and an average target price of $23.53.

Permian Resources Stock Performance

Shares of PR opened at $18.20 on Friday. The firm has a 50-day moving average price of $19.76 and a 200 day moving average price of $18.16. The firm has a market capitalization of $15.23 billion, a PE ratio of 21.16 and a beta of 0.46. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping 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 company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $0.44 EPS. Permian Resources’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is currently 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.