Avior Wealth Management LLC Grows Position in Permian Resources Co. (NASDAQ:PR)

Avior Wealth Management LLC lifted its holdings in shares of Permian Resources Co. (NASDAQ:PR) by 23.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,950 shares of the company’s stock after purchasing an additional 6,379 shares during the quarter. Avior Wealth Management LLC’s holdings in Permian Resources were worth $462,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PR. Vanguard Group Inc. bought a new stake in Permian Resources during the third quarter worth about $112,804,000. State Street Corp bought a new position in Permian Resources during the third quarter valued at approximately $100,979,000. Woodline Partners LP purchased a new position in shares of Permian Resources during the second quarter worth approximately $69,964,000. Macquarie Group Ltd. bought a new stake in shares of Permian Resources in the 1st quarter worth approximately $59,302,000. Finally, Jennison Associates LLC purchased a new stake in shares of Permian Resources in the 3rd quarter valued at $76,629,000. 91.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO William M. Hickey III sold 4,000,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total value of $62,840,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Permian Resources news, CEO William M. Hickey III sold 4,000,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $62,840,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brent P. Jensen sold 1,853 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total transaction of $27,127.92. Following the transaction, the chief accounting officer now directly owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 in the last 90 days. Insiders own 23.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PR. Susquehanna raised their price target on Permian Resources from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Raymond James began coverage on shares of Permian Resources in a research report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price target for the company. Truist Financial decreased their price objective on shares of Permian Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Benchmark raised their target price on Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Permian Resources Trading Down 2.0 %

NASDAQ PR opened at $17.19 on Friday. The stock’s 50 day moving average is $16.31 and its 200 day moving average is $14.52. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $13.27 billion, a PE ratio of 13.29 and a beta of 4.35. Permian Resources Co. has a twelve month low of $8.94 and a twelve month high of $18.28.

Permian Resources (NASDAQ:PR) last announced its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Research analysts forecast that Permian Resources Co. will post 1.71 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.16%. Permian Resources’s dividend payout ratio is currently 17.24%.

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.