Permian Resources Corporation $PR Shares Acquired by Cresset Asset Management LLC

Cresset Asset Management LLC lifted its stake in shares of Permian Resources Corporation (NYSE:PR) by 599.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,508 shares of the company’s stock after purchasing an additional 149,548 shares during the quarter. Cresset Asset Management LLC’s holdings in Permian Resources were worth $2,377,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PR. Cetera Investment Advisers raised its position in Permian Resources by 10.7% during the 1st quarter. Cetera Investment Advisers now owns 63,786 shares of the company’s stock worth $883,000 after buying an additional 6,190 shares during the last quarter. LPL Financial LLC increased its stake in shares of Permian Resources by 78.8% during the first quarter. LPL Financial LLC now owns 400,186 shares of the company’s stock worth $5,543,000 after acquiring an additional 176,424 shares during the period. US Bancorp DE raised its holdings in Permian Resources by 54.7% during the first quarter. US Bancorp DE now owns 31,902 shares of the company’s stock worth $442,000 after purchasing an additional 11,279 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Permian Resources by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,618,751 shares of the company’s stock valued at $63,970,000 after purchasing an additional 278,878 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its position in Permian Resources by 1,226.0% in the first quarter. Atlas Capital Advisors Inc. now owns 12,464 shares of the company’s stock valued at $173,000 after purchasing an additional 11,524 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Down 0.9%

NYSE:PR opened at $14.79 on Tuesday. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $16.03. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $13.19 and a 200-day simple moving average of $13.54. The company has a market capitalization of $12.26 billion, a PE ratio of 13.56 and a beta of 0.69.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. Permian Resources’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, equities research analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, December 17th. Permian Resources’s dividend payout ratio (DPR) is 55.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler cut their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Scotiabank started coverage on Permian Resources in a report on Friday, September 19th. They set a “sector outperform” rating and a $21.00 price objective on the stock. Royal Bank Of Canada increased their price objective on Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Mizuho decreased their target price on shares of Permian Resources from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, UBS Group upped their price target on shares of Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

About Permian Resources

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.