Permian Resources Corporation $PR Shares Bought by Americana Partners LLC

Americana Partners LLC grew its holdings in shares of Permian Resources Corporation (NYSE:PR) by 122.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 91,378 shares of the company’s stock after buying an additional 50,257 shares during the quarter. Americana Partners LLC’s holdings in Permian Resources were worth $1,282,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Permian Resources by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock valued at $1,057,930,000 after purchasing an additional 3,941,318 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Permian Resources by 20.9% during the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock valued at $346,919,000 after purchasing an additional 4,691,280 shares during the period. Boston Partners increased its holdings in shares of 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 purchasing an additional 7,503,654 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of 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 purchasing an additional 2,628,744 shares during the period. Finally, Alyeska Investment Group L.P. increased its holdings in shares of Permian Resources by 19.6% during the third quarter. Alyeska Investment Group L.P. now owns 10,460,270 shares of the company’s stock valued at $133,891,000 after purchasing an additional 1,717,151 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Permian Resources

In related news, CEO James H. Walter sold 673,425 shares of Permian Resources stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $12,377,551.50. Following the transaction, the chief executive officer owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. This trade represents a 6.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the transaction, the executive vice president directly owned 542,503 shares in the company, valued at $11,088,761.32. This represents a 10.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,192,835 shares of company stock worth $60,120,653 in the last three months. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of research analyst reports. Weiss Ratings lowered Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. KeyCorp initiated coverage on Permian Resources in a report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target on the stock. Piper Sandler raised their price target on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Susquehanna lowered their price target on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Finally, Benchmark lowered Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $22.38.

Permian Resources Trading Up 0.1%

Shares of PR opened at $20.45 on Monday. The business’s 50-day moving average price is $20.53 and its 200 day moving average price is $17.11. The stock has a market capitalization of $17.12 billion, a P/E ratio of 23.78 and a beta of 0.52. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share 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 analysts’ expectations of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.Permian Resources’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Analysts expect that Permian Resources Corporation will post 1.97 earnings per share for the current year.

Permian Resources Announces Dividend

The business 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 of this dividend is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

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.