Dynamic Technology Lab Private Ltd Decreases Holdings in Permian Resources Co. (NYSE:PR)

Dynamic Technology Lab Private Ltd decreased its holdings in Permian Resources Co. (NYSE:PR) by 59.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,090 shares of the company’s stock after selling 20,638 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Permian Resources were worth $192,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its position in Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the last quarter. Innealta Capital LLC purchased a new stake in Permian Resources during the 2nd quarter valued at $30,000. UMB Bank n.a. grew its holdings in Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after acquiring an additional 1,390 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in Permian Resources in the 2nd quarter worth $40,000. Finally, Blue Trust Inc. raised its stake in shares of Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 2,629 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PR shares. Citigroup cut their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler upped their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Benchmark dropped their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Mizuho dropped their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.93.

Permian Resources Stock Performance

NYSE:PR opened at $15.28 on Tuesday. The stock has a 50-day moving average price of $14.45 and a 200 day moving average price of $14.89. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The stock has a market capitalization of $12.28 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.94 and a beta of 4.34.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities research analysts forecast that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.93%. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s dividend payout ratio is 36.36%.

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.