Cookson Peirce & Co. Inc. Has $1.38 Million Stake in Permian Resources Corporation $PR

Cookson Peirce & Co. Inc. increased its position in shares of Permian Resources Corporation (NYSE:PR) by 48.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,024 shares of the company’s stock after buying an additional 32,000 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Permian Resources were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Permian Resources by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock worth $1,057,930,000 after buying an additional 3,941,318 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Permian Resources by 20.9% during 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. Bank of New York Mellon Corp increased its holdings in Permian Resources by 115.5% during the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after buying an additional 13,483,136 shares during the last quarter. 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 worth $222,099,000 after buying an additional 7,503,654 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Permian Resources by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 13,291,523 shares of the company’s stock worth $186,534,000 after buying an additional 382,777 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Price Performance

NYSE:PR opened at $19.18 on Monday. Permian Resources Corporation has a one year low of $11.92 and a one year high of $22.67. The company has a market cap of $16.06 billion, a P/E ratio of 22.30 and a beta of 0.48. The firm’s fifty day moving average price is $20.50 and its two-hundred day moving average price is $17.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick 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, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect that Permian Resources Corporation will post 2.01 earnings per share for the current year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. Permian Resources’s dividend payout ratio is 74.42%.

Insider Buying and Selling at Permian Resources

In related news, Director Aron Marquez sold 7,750 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were 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 approximately $1,416,917.16. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the completion of the transaction, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,438,198 shares of company stock valued at $27,865,280. 5.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PR has been the topic of several research reports. Scotiabank upped their price objective on shares of Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. UBS Group upped their price objective on shares of Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Raymond James Financial reiterated a “strong-buy” rating and issued a $21.00 price objective on shares of Permian Resources in a report on Thursday, February 26th. Citigroup upped their price objective on shares of Permian Resources from $21.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada upped their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

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.