Vestmark Advisory Solutions Inc. Purchases New Position in Permian Resources Corporation $PR

Vestmark Advisory Solutions Inc. acquired a new stake in Permian Resources Corporation (NYSE:PR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,483 shares of the company’s stock, valued at approximately $143,000.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its holdings in Permian Resources by 376.7% in the first quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after acquiring an additional 1,635 shares during the last quarter. Keystone Global Partners LLC acquired a new position in Permian Resources during the 1st quarter valued at about $36,000. FNY Investment Advisers LLC bought a new position in shares of Permian Resources in the 2nd quarter valued at about $36,000. Brooklyn Investment Group grew its position in shares of Permian Resources by 433.9% during the 1st quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock worth $43,000 after buying an additional 2,534 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Permian Resources by 204.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock worth $52,000 after buying an additional 2,568 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Activity at Permian Resources

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

Analysts Set New Price Targets

A number of research firms recently commented on PR. Royal Bank Of Canada upped their price objective on Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. William Blair assumed coverage on shares of Permian Resources in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Weiss Ratings lowered shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wells Fargo & Company lowered their price objective on shares of Permian Resources from $21.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Finally, Morgan Stanley lifted their target price on Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.73.

Permian Resources Trading Up 0.1%

Shares of NYSE:PR opened at $13.33 on Thursday. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.33. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31. The stock has a market cap of $10.67 billion, a PE ratio of 12.24 and a beta of 1.31. The business has a 50 day moving average of $12.98 and a 200-day moving average of $13.36.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.Permian Resources’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. As a group, equities research analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.5%. Permian Resources’s payout ratio is currently 55.05%.

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.