Talon Private Wealth LLC Raises Position in Permian Resources Corporation $PR

Talon Private Wealth LLC raised its position in shares of Permian Resources Corporation (NYSE:PR) by 24.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 150,347 shares of the company’s stock after acquiring an additional 29,650 shares during the quarter. Talon Private Wealth LLC’s holdings in Permian Resources were worth $2,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PR. Dimensional Fund Advisors LP boosted its holdings in shares of Permian Resources by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after buying an additional 4,533,732 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Permian Resources by 115.5% in the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after acquiring an additional 13,483,136 shares in the last quarter. State Street Corp increased its stake in shares of Permian Resources by 2.0% in the 4th quarter. State Street Corp now owns 23,553,393 shares of the company’s stock worth $330,454,000 after acquiring an additional 460,158 shares in the last quarter. Wellington Management Group LLP lifted its position in Permian Resources by 3.9% during the 2nd quarter. Wellington Management Group LLP now owns 20,156,113 shares of the company’s stock valued at $371,074,000 after acquiring an additional 763,059 shares during the period. Finally, Boston Partners lifted its position in Permian Resources by 76.2% during the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after acquiring an additional 7,503,654 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, EVP Guy M. Oliphint sold 5,103 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $121,196.25. Following the transaction, the executive vice president owned 537,400 shares in the company, valued at approximately $12,763,250. This represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Bell sold 5,492 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $130,435.00. Following the sale, the executive vice president directly owned 1,561,680 shares in the company, valued at approximately $37,089,900. The trade was a 0.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 15,699 shares of company stock worth $372,851. 5.00% of the stock is owned by corporate insiders.

Permian Resources Stock Up 0.3%

Shares of NYSE PR traded up $0.07 during midday trading on Friday, hitting $23.77. The stock had a trading volume of 6,550,988 shares, compared to its average volume of 11,518,594. The business’s 50 day moving average is $21.43 and its 200-day moving average is $20.37. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $24.20. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The company has a market cap of $19.91 billion, a P/E ratio of 15.75 and a beta of 0.49.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 55.1% on a year-over-year basis. As a group, analysts predict that Permian Resources Corporation will post 2.27 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources’s dividend payout ratio is presently 42.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Roth Capital set a $23.00 target price on shares of Permian Resources and gave the company a “buy” rating in a research note on Monday, June 22nd. UBS Group dropped their price target on Permian Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Wall Street Zen upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Truist Financial boosted their target price on Permian Resources from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Permian Resources in a research note on Wednesday, August 19th. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $24.00.

Permian Resources Profile

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development and production of hydrocarbon resources in the Permian Basin. Its operations are concentrated in the Delaware and Midland basins of West Texas and southeastern New Mexico, where it develops primarily unconventional oil and natural gas properties.

The company’s production includes crude oil, natural gas and natural gas liquids. Permian Resources operates a portfolio of acreage and drilling locations and uses horizontal drilling and hydraulic fracturing technologies to develop its resources.