Frontier Capital Management Co. LLC Has $55.07 Million Stake in Permian Resources Corporation $PR

Frontier Capital Management Co. LLC increased its holdings in shares of Permian Resources Corporation (NYSE:PR) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,043,039 shares of the company’s stock after acquiring an additional 189,772 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.50% of Permian Resources worth $55,066,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Permian Resources by 86.8% in the second quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock valued at $326,380,000 after purchasing an additional 11,133,354 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Permian Resources by 19.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,099,726 shares of the company’s stock worth $195,276,000 after buying an additional 2,286,363 shares during the period. American Century Companies Inc. boosted its holdings in shares of Permian Resources by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock worth $150,409,000 after buying an additional 1,863,632 shares during the period. Boston Partners acquired a new position in Permian Resources in the 2nd quarter valued at about $134,119,000. Finally, Invesco Ltd. raised its holdings in Permian Resources by 8.9% in the 1st quarter. Invesco Ltd. now owns 8,622,575 shares of the company’s stock valued at $119,423,000 after acquiring an additional 701,825 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PR. Wells Fargo & Company reduced their price objective on Permian Resources from $21.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Raymond James Financial decreased their price objective on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 2nd. Piper Sandler dropped their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Royal Bank Of Canada upped their price target on shares of Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Permian Resources Price Performance

Shares of NYSE:PR opened at $15.00 on Thursday. The firm has a 50 day moving average of $13.27 and a 200-day moving average of $13.57. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $12.44 billion, a PE ratio of 13.76 and a beta of 0.70.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business earned $0.53 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.0%. Permian Resources’s payout ratio is 55.05%.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.