Permian Resources Corporation $PR Stock Position Boosted by AlphaCore Capital LLC

AlphaCore Capital LLC grew its stake in shares of Permian Resources Corporation (NYSE:PR) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 576,677 shares of the company’s stock after buying an additional 39,449 shares during the quarter. AlphaCore Capital LLC owned about 0.07% of Permian Resources worth $8,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after acquiring an additional 3,224 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Permian Resources during the 4th quarter valued at $60,000. Farther Finance Advisors LLC lifted its position in shares of Permian Resources by 126.1% during the 4th quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock valued at $62,000 after acquiring an additional 2,477 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Permian Resources during the 4th quarter valued at $82,000. Finally, Allworth Financial LP lifted its position in shares of Permian Resources by 18.7% during the 3rd quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock valued at $82,000 after acquiring an additional 1,015 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Trading Up 3.2%

NYSE:PR opened at $20.84 on Friday. The stock’s 50 day moving average price is $20.35 and its 200 day moving average price is $16.78. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67. The company has a market capitalization of $17.45 billion, a P/E ratio of 24.23, a P/E/G ratio of 1.11 and a beta of 0.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, research analysts forecast that Permian Resources Corporation will post 1.98 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s dividend payout ratio is presently 74.42%.

Analyst Ratings Changes

PR has been the subject of a number of recent research reports. Zacks Research upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Benchmark lowered Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. KeyCorp started coverage on Permian Resources in a report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 target price for the company. Scotiabank increased their target price on Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Four equities 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 MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.38.

Insider Activity

In other Permian Resources news, EVP John Charles Bell sold 158,385 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.39, for a total transaction of $2,912,700.15. Following the transaction, the executive vice president directly owned 1,567,172 shares of the company’s stock, valued at $28,820,293.08. This represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Tepper sold 50,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $19.38, for a total transaction of $969,000.00. Following the transaction, the director directly owned 150,546 shares in the company, valued at $2,917,581.48. The trade was a 24.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,130,066 shares of company stock valued at $58,837,655. Corporate insiders own 5.00% of the company’s stock.

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.