Yousif Capital Management LLC Reduces Holdings in Permian Resources Co. (NYSE:PR)

Yousif Capital Management LLC trimmed its stake in Permian Resources Co. (NYSE:PR) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,288 shares of the company’s stock after selling 3,337 shares during the period. Yousif Capital Management LLC’s holdings in Permian Resources were worth $3,051,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Permian Resources by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company’s stock valued at $944,487,000 after buying an additional 870,622 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Permian Resources by 60.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company’s stock worth $469,856,000 after purchasing an additional 12,306,854 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Permian Resources during the 4th quarter worth $431,676,000. Massachusetts Financial Services Co. MA grew its position in Permian Resources by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company’s stock worth $265,209,000 after purchasing an additional 291,444 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Permian Resources by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company’s stock worth $196,025,000 after purchasing an additional 909,740 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. Raymond James reaffirmed a “strong-buy” rating and issued a $23.00 target price (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. Royal Bank of Canada lifted their target price on shares of Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Piper Sandler lowered their target price on shares of Permian Resources from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Susquehanna lowered their target price on shares of Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.56.

Permian Resources Stock Up 3.3%

Shares of NYSE PR opened at $14.95 on Friday. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $16.95. The company has a market capitalization of $12.01 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 4.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s 50-day moving average is $12.61 and its two-hundred day moving average is $13.69.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts anticipate that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources’s dividend payout ratio (DPR) is presently 37.04%.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.