Aptus Capital Advisors LLC Boosts Stake in Permian Resources Corporation $PR

Aptus Capital Advisors LLC raised its position in Permian Resources Corporation (NYSE:PR) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 294,552 shares of the company’s stock after buying an additional 29,838 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Permian Resources were worth $4,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in Permian Resources by 4.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after purchasing an additional 607 shares in the last quarter. Waterloo Capital L.P. lifted its holdings in shares of Permian Resources by 3.1% during the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after acquiring an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Permian Resources by 5.4% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after acquiring an additional 706 shares in the last quarter. Curated Wealth Partners LLC boosted its position in Permian Resources by 1.1% during the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock worth $991,000 after purchasing an additional 747 shares during the period. Finally, Callahan Advisors LLC increased its holdings in Permian Resources by 4.8% in the 4th quarter. Callahan Advisors LLC now owns 22,093 shares of the company’s stock valued at $310,000 after purchasing an additional 1,004 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Price Performance

Shares of PR stock opened at $18.95 on Tuesday. The firm has a fifty day moving average of $20.27 and a two-hundred day moving average of $17.80. The firm has a market cap of $15.86 billion, a P/E ratio of 22.03 and a beta of 0.48. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. 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 earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping 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 company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Permian Resources Corporation will post 2.01 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.16 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. Permian Resources’s dividend payout ratio (DPR) is presently 74.42%.

Insider Transactions at Permian Resources

In other news, Director Aron Marquez sold 7,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of the sale, the director directly owned 72,218 shares in the company, valued at approximately $1,416,917.16. The trade was a 9.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares in the company, valued at approximately $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 582,948 shares of company stock worth $11,473,537. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PR shares. Royal Bank Of Canada raised their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Truist Financial increased their target price on Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Benchmark downgraded Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. KeyCorp initiated coverage on Permian Resources in a research report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target on the stock. Finally, Roth Mkm restated a “neutral” rating and issued a $22.00 price target (up from $20.00) on shares of Permian Resources in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.