Permian Resources Co. (NYSE:PR) Holdings Reduced by Creative Planning

Creative Planning lessened its holdings in shares of Permian Resources Co. (NYSE:PR) by 27.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,256 shares of the company’s stock after selling 24,447 shares during the period. Creative Planning’s holdings in Permian Resources were worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PR. Hexagon Capital Partners LLC increased its stake in Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after buying an additional 1,998 shares during the period. Innealta Capital LLC bought a new position in shares of Permian Resources in the second quarter valued at approximately $30,000. Transcendent Capital Group LLC acquired a new position in shares of Permian Resources during the first quarter valued at approximately $36,000. UMB Bank n.a. raised its holdings 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 purchasing an additional 1,390 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Permian Resources in the second quarter worth approximately $40,000. Institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho dropped their price objective on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Permian Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. UBS Group dropped their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Benchmark reduced their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, thirteen have assigned 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 a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Insider Activity

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the sale, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Stock Down 1.6 %

NYSE:PR opened at $13.41 on Friday. The business’s fifty day moving average price is $13.89 and its 200 day moving average price is $15.17. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.82 and a beta of 4.34. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1-year low of $12.34 and a 1-year high of $18.28.

Permian Resources (NYSE:PR) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm’s quarterly revenue was up 99.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, sell-side analysts forecast that Permian Resources Co. will post 1.46 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is currently 19.20%.

Permian Resources 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.