120,697 Shares in Permian Resources Corporation $PR Acquired by Talon Private Wealth LLC

Talon Private Wealth LLC bought a new position in shares of Permian Resources Corporation (NYSE:PR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 120,697 shares of the company’s stock, valued at approximately $2,573,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horizon Investments LLC boosted its stake in Permian Resources by 80.8% during the fourth quarter. Horizon Investments LLC now owns 420,448 shares of the company’s stock worth $5,899,000 after acquiring an additional 187,903 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Permian Resources by 35.3% in the first quarter. Sanctuary Advisors LLC now owns 191,058 shares of the company’s stock valued at $4,073,000 after purchasing an additional 49,798 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Permian Resources by 98.0% during the first quarter. Sterling Capital Management LLC now owns 168,262 shares of the company’s stock valued at $3,587,000 after purchasing an additional 83,302 shares during the period. HighTower Advisors LLC boosted its position in shares of Permian Resources by 55.2% during the 4th quarter. HighTower Advisors LLC now owns 259,403 shares of the company’s stock worth $3,639,000 after purchasing an additional 92,309 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Permian Resources by 39.5% in the 4th quarter. UBS Group AG now owns 6,560,632 shares of the company’s stock valued at $92,046,000 after buying an additional 1,858,992 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PR has been the topic of a number of research reports. Weiss Ratings downgraded Permian Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 15th. BMO Capital Markets upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Evercore assumed coverage on shares of Permian Resources in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 price target for the company. Mizuho raised their price objective on shares of Permian Resources from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley reduced their price objective on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of “Buy” and an average target price of $23.29.

Permian Resources Trading Down 2.3%

NYSE:PR opened at $19.78 on Wednesday. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67. The firm has a 50-day moving average price of $19.47 and a two-hundred day moving average price of $18.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 23.00 and a beta of 0.46.

Permian Resources (NYSE:PR) last posted its quarterly earnings data 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 return on equity of 10.53% and a net margin of 12.79%.The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up .9% on a year-over-year basis. On average, equities analysts expect that Permian Resources Corporation will post 1.94 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $0.16 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.2%. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

Insider Activity at Permian Resources

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

Permian Resources Profile

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.