Kingsview Wealth Management LLC Buys 20,962 Shares of Permian Resources Corporation $PR

Kingsview Wealth Management LLC grew its position in shares of Permian Resources Corporation (NYSE:PR) by 62.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,592 shares of the company’s stock after purchasing an additional 20,962 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Permian Resources were worth $744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PR. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Permian Resources by 154.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock worth $31,000 after acquiring an additional 1,391 shares in the last quarter. Keystone Global Partners LLC acquired a new stake in Permian Resources during the first quarter worth approximately $36,000. FNY Investment Advisers LLC acquired a new stake in Permian Resources during the second quarter worth approximately $36,000. Parkside Financial Bank & Trust increased its holdings in Permian Resources by 90.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Permian Resources by 433.9% in the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock valued at $43,000 after buying an additional 2,534 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert Regan Shannon sold 4,742 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total transaction of $67,431.24. Following the transaction, the executive vice president directly owned 91,805 shares in the company, valued at approximately $1,305,467.10. This represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 4,743 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the sale, the executive vice president owned 107,569 shares of the company’s stock, valued at $1,528,555.49. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. 6.44% of the stock is owned by corporate insiders.

Permian Resources Trading Down 1.4%

Shares of Permian Resources stock opened at $13.83 on Friday. The stock has a market capitalization of $11.47 billion, a P/E ratio of 12.68 and a beta of 1.31. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $16.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50-day simple moving average is $12.95 and its 200 day simple moving average is $13.42.

Permian Resources (NYSE:PR) last issued 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 return on equity of 11.03% and a net margin of 15.65%.The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, December 17th. Permian Resources’s payout ratio is currently 55.05%.

Analyst Ratings Changes

Several research firms have weighed in on PR. Piper Sandler decreased their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday. Raymond James Financial decreased their target price on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 2nd. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. The Goldman Sachs Group raised their price objective on Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Royal Bank Of Canada upped their target price on Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.