Corient Private Wealth LLC Raises Stake in Permian Resources Corporation $PR

Corient Private Wealth LLC raised its holdings in Permian Resources Corporation (NYSE:PR) by 80.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,764 shares of the company’s stock after purchasing an additional 35,905 shares during the quarter. Corient Private Wealth LLC’s holdings in Permian Resources were worth $1,133,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in Permian Resources by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock valued at $2,060,000 after buying an additional 61,230 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Permian Resources by 18.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after acquiring an additional 852,347 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Permian Resources by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock valued at $16,751,000 after acquiring an additional 87,105 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Permian Resources by 340.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Permian Resources by 21.3% during the second quarter. Marshall Wace LLP now owns 93,507 shares of the company’s stock worth $1,274,000 after acquiring an additional 16,443 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PR. Piper Sandler lifted their price target on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Truist Financial raised their target price on Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Roth Mkm set a $23.00 price target on shares of Permian Resources and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Permian Resources has an average rating of “Buy” and a consensus price target of $23.53.

Permian Resources Stock Down 2.7%

Shares of NYSE PR opened at $17.91 on Thursday. 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 Corporation has a 12-month low of $11.92 and a 12-month high of $22.67. The company has a market capitalization of $15.00 billion, a PE ratio of 20.83 and a beta of 0.46. The firm’s 50-day moving average is $19.84 and its two-hundred day moving average is $18.13.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the company earned $0.44 EPS. Permian Resources’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Permian Resources Corporation will post 1.97 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio is 74.42%.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’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 sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at $11,088,761.32. This trade represents a 10.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

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.