Permian Resources Corporation $PR Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its position in Permian Resources Corporation (NYSE:PR) by 98.0% during the 1st quarter, HoldingsChannel reports. The firm owned 168,262 shares of the company’s stock after buying an additional 83,302 shares during the quarter. Sterling Capital Management LLC’s holdings in Permian Resources were worth $3,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Permian Resources by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock worth $1,057,930,000 after purchasing an additional 3,941,318 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Permian Resources by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after buying an additional 4,533,732 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Permian Resources by 115.5% during the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after buying an additional 13,483,136 shares during the period. State Street Corp boosted its position in shares of Permian Resources by 2.0% during the fourth quarter. State Street Corp now owns 23,553,393 shares of the company’s stock worth $330,454,000 after buying an additional 460,158 shares during the period. Finally, Boston Partners grew its holdings in Permian Resources by 76.2% in the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company’s stock worth $222,099,000 after buying an additional 7,503,654 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Down 1.1%

Shares of PR stock opened at $18.65 on Friday. The stock has a 50-day simple moving average of $19.93 and a 200 day simple moving average of $18.04. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67. The stock has a market capitalization of $15.61 billion, a P/E ratio of 21.68 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Permian Resources Corporation will post 2 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s dividend payout ratio is currently 74.42%.

Analyst Ratings Changes

Several research firms recently commented on PR. Wells Fargo & Company set a $26.00 target price on Permian Resources in a research report on Monday, May 25th. Weiss Ratings lowered Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group increased their price target on Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. BMO Capital Markets raised Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Finally, Truist Financial upped their price objective on shares of Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.18.

Insider Activity at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the transaction, the executive vice president owned 542,503 shares in the company, 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 SEC, which can be accessed through the SEC website. 5.00% of the stock is currently owned by corporate insiders.

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.