181,473 Shares of Permian Resources Corporation $PR Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY bought a new position in shares of Permian Resources Corporation (NYSE:PR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 181,473 shares of the company’s stock, valued at approximately $3,833,000.

A number of other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in Permian Resources by 21.3% during the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock valued at $76,000 after purchasing an additional 621 shares during the period. Quadrant Capital Group LLC grew its position in shares of Permian Resources by 1.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 40,003 shares of the company’s stock worth $845,000 after buying an additional 635 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Permian Resources by 0.5% in the 3rd quarter. Yousif Capital Management LLC now owns 217,158 shares of the company’s stock worth $4,586,000 after buying an additional 997 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Permian Resources by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 12,153 shares of the company’s stock worth $259,000 after buying an additional 1,110 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in shares of 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. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Up 1.2%

PR stock opened at $25.79 on Tuesday. Permian Resources Corporation has a fifty-two week low of $12.06 and a fifty-two week high of $25.96. The business’s 50 day moving average price is $23.19 and its two-hundred day moving average price is $20.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 17.08 and a beta of 0.66.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The business’s revenue was up 55.1% compared to the same quarter last year. As a group, analysts forecast that Permian Resources Corporation will post 2.43 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 16th. Permian Resources’s dividend payout ratio is presently 42.38%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PR. UBS Group upped their target price on Permian Resources from $24.00 to $29.00 and gave the company a “buy” rating in a report on Monday, September 14th. Citigroup lifted their price target on shares of Permian Resources from $24.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 12th. Susquehanna boosted their price objective on shares of Permian Resources from $25.00 to $30.00 and gave the company a “positive” rating in a research report on Tuesday, October 20th. Zacks Research raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of Permian Resources from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of “Buy” and an average price target of $26.39.

Insiders Place Their Bets

In other Permian Resources news, EVP Guy Oliphint sold 5,103 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,196.25. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Robert Shannon sold 5,104 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total value of $121,220.00. Following the transaction, the executive vice president directly owned 1,346,698 shares of the company’s stock, valued at $31,984,077.50. This represents a 0.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 15,699 shares of company stock worth $372,851. 5.00% of the stock is owned by corporate insiders.

About Permian Resources

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development, and production of hydrocarbons in the Permian Basin. Its operations are concentrated in the Delaware Basin, a prolific oil-producing region spanning southeastern New Mexico and West Texas.

The company’s production portfolio includes crude oil, natural gas, and natural gas liquids. Permian Resources develops its acreage through horizontal drilling and multi-well development programs, with activities that include drilling, completion, production, and infrastructure management.