SG Americas Securities LLC Purchases 288,088 Shares of Permian Resources Corporation $PR

SG Americas Securities LLC boosted its position in Permian Resources Corporation (NYSE:PR) by 344.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 371,828 shares of the company’s stock after purchasing an additional 288,088 shares during the period. SG Americas Securities LLC’s holdings in Permian Resources were worth $5,217,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Permian Resources by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after purchasing an additional 6,705,644 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Permian Resources by 20.9% in the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock worth $346,919,000 after buying an additional 4,691,280 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Permian Resources by 8.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock valued at $236,207,000 after buying an additional 1,421,059 shares during the period. Boston Partners increased its holdings in Permian Resources by 76.2% during the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after buying an additional 7,503,654 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Permian Resources by 24.7% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,263,570 shares of the company’s stock valued at $169,774,000 after buying an additional 2,628,744 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Stock Performance

PR opened at $20.61 on Thursday. The firm has a market cap of $17.23 billion, a P/E ratio of 16.48, a PEG ratio of 3.18 and a beta of 0.56. Permian Resources Corporation has a 1-year low of $10.01 and a 1-year high of $21.99. The company has a 50 day simple moving average of $18.14 and a two-hundred day simple moving average of $15.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $0.36 EPS. The company’s revenue was down 9.8% on a year-over-year basis. Equities analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.16 per share. This is a boost from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 17th. Permian Resources’s payout ratio is 51.20%.

Insider Buying and Selling at Permian Resources

In other news, Director Aron Marquez sold 7,750 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total value of $152,055.00. Following the transaction, the director directly owned 72,218 shares in the company, valued at $1,416,917.16. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Tepper sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $19.38, for a total value of $969,000.00. Following the completion of the transaction, the director directly owned 150,546 shares of the company’s stock, valued at approximately $2,917,581.48. This trade represents a 24.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 5,340,522 shares of company stock valued at $89,069,383. 6.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PR shares. The Goldman Sachs Group lifted their price target on shares of Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Weiss Ratings upgraded Permian Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Scotiabank raised Permian Resources to a “strong-buy” rating in a report on Friday, March 27th. Royal Bank Of Canada lifted their target price on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Finally, UBS Group boosted their price target on Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Permian Resources currently has an average rating of “Buy” and an average price target of $21.43.

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.