Mizuho Markets Americas LLC Sells 382,976 Shares of Permian Resources Corporation $PR

Mizuho Markets Americas LLC trimmed its holdings in Permian Resources Corporation (NYSE:PR) by 44.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 483,771 shares of the company’s stock after selling 382,976 shares during the period. Mizuho Markets Americas LLC’s holdings in Permian Resources were worth $10,314,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PR. SJS Investment Consulting Inc. grew its position in 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 acquiring an additional 1,341 shares during the last quarter. SHP Wealth Management bought a new position in shares of Permian Resources in the fourth quarter worth about $27,000. Cedar Mountain Advisors LLC purchased a new position in Permian Resources in the 1st quarter worth about $48,000. Los Angeles Capital Management LLC purchased a new position in Permian Resources in the 4th quarter worth about $39,000. Finally, State of Wyoming lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Down 0.2%

Shares of Permian Resources stock opened at $21.35 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 24.83 and a beta of 0.46. The firm’s 50-day moving average is $19.50 and its two-hundred day moving average is $18.75. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts expect that Permian Resources Corporation will post 1.94 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is presently 74.42%.

Analysts Set New Price Targets

A number of equities analysts have commented on PR shares. Citigroup dropped their target price on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Truist Financial decreased their price target on shares of Permian Resources from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 13th. BMO Capital Markets upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company set a $26.00 price objective on Permian Resources in a research note on Monday, May 25th. Finally, Evercore assumed coverage on Permian Resources in a report on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Permian Resources currently has a consensus rating of “Buy” and a consensus target price of $23.29.

Insider Buying and Selling

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is owned by company 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.