257,505 Shares in Permian Resources Corporation $PR Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in shares of Permian Resources Corporation (NYSE:PR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 257,505 shares of the company’s stock, valued at approximately $4,741,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PR. SHP Wealth Management purchased a new position in shares of Permian Resources during the fourth quarter valued at $27,000. SJS Investment Consulting Inc. raised its holdings in shares of Permian Resources by 1,862.5% in the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after acquiring an additional 1,341 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Permian Resources in the fourth quarter worth about $39,000. State of Wyoming lifted its stake in Permian Resources by 126.8% in the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after acquiring an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC bought a new position in Permian Resources during the 1st quarter worth about $48,000. 91.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PR has been the topic of a number of research reports. UBS Group cut their target price on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Wells Fargo & Company increased their price objective on shares of Permian Resources from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Raymond James Financial cut their price objective on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, June 17th. Scotiabank boosted their price objective on shares of Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Zacks Research lowered Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $23.47.

Permian Resources Stock Performance

PR stock opened at $22.98 on Thursday. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 15.22 and a beta of 0.48. The firm has a 50-day simple moving average of $19.90 and a two-hundred day simple moving average of $19.64. Permian Resources Corporation has a one year low of $11.92 and a one year high of $23.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.62 and a current ratio of 0.62.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The company’s revenue was up 55.1% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, equities analysts forecast that Permian Resources Corporation will post 2.15 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, September 16th. Permian Resources’s dividend payout ratio (DPR) is 42.38%.

Permian Resources 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.