Strs Ohio Buys Shares of 484,910 Permian Resources Corporation $PR

Strs Ohio purchased a new position in Permian Resources Corporation (NYSE:PR) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 484,910 shares of the company’s stock, valued at approximately $10,338,000.

Several other institutional investors have also made changes to their positions in PR. SHP Wealth Management purchased a new position in Permian Resources during the fourth quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its position in Permian Resources by 1,862.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after buying an additional 1,341 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Permian Resources during the 4th quarter valued at $39,000. State of Wyoming boosted its stake in shares of Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after buying an additional 1,640 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after acquiring an additional 3,224 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Down 0.0%

PR stock opened at $18.20 on Monday. 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 50-day moving average of $19.76 and a two-hundred day moving average of $18.18. The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 21.16 and a beta of 0.46. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business earned $0.44 earnings per share. Permian Resources’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Permian Resources Corporation will post 1.97 EPS for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

Insider Activity at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 542,503 shares in the company, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PR shares. Morgan Stanley reduced their price objective on Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. The Goldman Sachs Group raised their price objective on shares of Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Citigroup increased their price target on shares of Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Raymond James Financial cut their target price on Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, June 17th. Finally, Piper Sandler raised their price objective on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $23.53.

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.