Hennion & Walsh Asset Management Inc. Increases Stake in Permian Resources Co. (NYSE:PR)

Hennion & Walsh Asset Management Inc. lifted its stake in shares of Permian Resources Co. (NYSE:PR) by 36.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,345 shares of the company’s stock after buying an additional 9,165 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Permian Resources were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake in Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Permian Resources during the fourth quarter worth about $31,000. UMB Bank n.a. boosted its stake in Permian Resources by 99.2% during the third 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 in the last quarter. Sunbelt Securities Inc. boosted its stake in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is owned by company insiders.

Permian Resources Stock Up 1.1 %

Shares of PR stock opened at $16.01 on Tuesday. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The stock has a market cap of $12.86 billion, a P/E ratio of 9.70, a P/E/G ratio of 0.88 and a beta of 4.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $14.94 and a two-hundred day simple moving average of $14.62.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm’s revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, research analysts expect that Permian Resources Co. will post 1.44 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.75%. Permian Resources’s dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

Several research firms recently commented on PR. Truist Financial boosted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Benchmark dropped their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company dropped their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus target price of $19.06.

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.