Quantum Portfolio Management LLC Acquires Shares of 35,737 Permian Resources Corporation $PR

Quantum Portfolio Management LLC acquired a new stake in Permian Resources Corporation (NYSE:PR) in the first quarter, Holdings Channel.com reports. The firm acquired 35,737 shares of the company’s stock, valued at approximately $762,000.

Other large investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its position in Permian Resources by 4.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after acquiring an additional 607 shares during the period. Waterloo Capital L.P. raised its position in shares of Permian Resources by 3.1% during the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after purchasing an additional 657 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Permian Resources by 5.4% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after buying an additional 706 shares in the last quarter. Curated Wealth Partners LLC boosted its holdings in Permian Resources by 1.1% in the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock worth $991,000 after buying an additional 747 shares during the last quarter. Finally, Dean Investment Associates LLC increased its stake in Permian Resources by 0.3% during the 4th quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock worth $3,727,000 after buying an additional 922 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Price Performance

Shares of PR stock opened at $19.33 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $16.18 billion, a PE ratio of 22.48 and a beta of 0.46. The firm’s 50-day moving average is $19.65 and its two-hundred day moving average is $18.29. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Analysts predict that Permian Resources Corporation will post 1.96 earnings per share for the current year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 16th. Permian Resources’s dividend payout ratio is 74.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PR shares. Piper Sandler lifted their price target on Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Weiss Ratings cut shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. TD Cowen upped their target price on shares of Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Zacks Research downgraded shares of Permian Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Evercore initiated coverage on shares of Permian Resources in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $23.53.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the completion of the sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Permian Resources Company 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.