Pacer Advisors Inc. Has $1.87 Million Stock Holdings in Permian Resources Corporation $PR

Pacer Advisors Inc. decreased its holdings in shares of Permian Resources Corporation (NYSE:PR) by 78.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 87,913 shares of the company’s stock after selling 325,118 shares during the quarter. Pacer Advisors Inc.’s holdings in Permian Resources were worth $1,874,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PR. Sanctuary Advisors LLC boosted its holdings in shares of Permian Resources by 35.3% during the first quarter. Sanctuary Advisors LLC now owns 191,058 shares of the company’s stock worth $4,073,000 after purchasing an additional 49,798 shares during the period. Principal Financial Group Inc. increased its holdings in Permian Resources by 1.8% in the first quarter. Principal Financial Group Inc. now owns 4,733,183 shares of the company’s stock worth $100,911,000 after buying an additional 85,509 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Permian Resources by 80.8% during the 4th quarter. Horizon Investments LLC now owns 420,448 shares of the company’s stock valued at $5,899,000 after purchasing an additional 187,903 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Permian Resources by 98.0% in the 1st quarter. Sterling Capital Management LLC now owns 168,262 shares of the company’s stock valued at $3,587,000 after acquiring an additional 83,302 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Permian Resources by 2.8% during the 4th quarter. Jennison Associates LLC now owns 3,818,742 shares of the company’s stock worth $53,577,000 after buying an additional 105,396 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Trading Down 0.8%

Shares of PR stock opened at $20.11 on Friday. The company has a market capitalization of $16.84 billion, a P/E ratio of 13.32 and a beta of 0.48. Permian Resources Corporation has a 12-month low of $11.92 and a 12-month high of $22.67. The company has a quick ratio of 0.66, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $19.57 and a 200 day moving average price of $19.22.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. Research analysts forecast that Permian Resources Corporation will post 2.03 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources’s payout ratio is presently 74.42%.

Wall Street Analyst Weigh In

PR has been the topic of several research analyst reports. Roth Capital set a $23.00 price objective on shares of Permian Resources and gave the stock a “buy” rating in a research note on Monday, June 22nd. Citigroup decreased their price objective on Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Truist Financial cut their target price on Permian Resources from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Weiss Ratings raised Permian Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Mizuho raised shares of Permian Resources to a “strong-buy” rating in a report on Friday, July 31st. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.29.

Insider Buying and Selling

In related news, EVP Guy M. Oliphint sold 62,769 shares of the 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 directly owned 542,503 shares in the company, valued at $11,088,761.32. This represents a 10.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by company insiders.

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.