Polianta Ltd Invests $1.47 Million in Permian Resources Corporation $PR

Polianta Ltd bought a new stake in Permian Resources Corporation (NYSE:PR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 115,000 shares of the company’s stock, valued at approximately $1,472,000.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in Permian Resources by 114.1% in the third quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock worth $25,000 after buying an additional 1,047 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 valued at $31,000 after purchasing an additional 1,391 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Permian Resources during the 2nd quarter valued at $36,000. Parkside Financial Bank & Trust raised its position in Permian Resources by 90.8% in the 2nd 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 during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Permian Resources by 204.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock worth $52,000 after purchasing an additional 2,568 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PR has been the topic of several analyst reports. Royal Bank Of Canada lifted their price objective on Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. UBS Group lifted their price target on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wall Street Zen raised Permian Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Permian Resources in a research note on Thursday, November 20th. Finally, Piper Sandler lowered their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.07.

Permian Resources Stock Performance

Shares of PR opened at $14.00 on Friday. The company has a 50-day simple moving average of $13.63 and a two-hundred day simple moving average of $13.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $11.61 billion, a PE ratio of 12.84 and a beta of 0.70. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.03.

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

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a dividend of $0.15 per share. 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 dividend payout ratio (DPR) is 55.05%.

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.