Permian Resources Co. (NASDAQ:PR) Shares Purchased by AlphaMark Advisors LLC

AlphaMark Advisors LLC boosted its holdings in shares of Permian Resources Co. (NASDAQ:PR) by 16.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 22,390 shares of the company’s stock after buying an additional 3,192 shares during the quarter. AlphaMark Advisors LLC’s holdings in Permian Resources were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in shares of Permian Resources during the first quarter worth $32,000. Parallel Advisors LLC increased its stake in Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Permian Resources during the fourth quarter worth about $33,000. GAMMA Investing LLC purchased a new position in shares of Permian Resources in the fourth quarter valued at approximately $43,000. Finally, Tradition Wealth Management LLC purchased a new position in shares of Permian Resources in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. UBS Group upgraded Permian Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $21.00 in a research note on Friday, June 14th. Truist Financial lifted their target price on Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a report on Friday, April 12th. Finally, Bank of America reiterated a “buy” rating and issued a $20.00 price objective on shares of Permian Resources in a research note on Friday, June 14th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.31.

Permian Resources Stock Down 0.3 %

PR stock traded down $0.05 during trading on Monday, hitting $16.10. 15,627,249 shares of the company’s stock were exchanged, compared to its average volume of 10,160,166. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.63 and a beta of 4.37. Permian Resources Co. has a 52-week low of $10.31 and a 52-week high of $18.28. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $16.18 and a two-hundred day moving average price of $15.45.

Permian Resources (NASDAQ:PR) last issued its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. Permian Resources had a net margin of 13.90% and a return on equity of 11.43%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. As a group, equities research analysts expect that Permian Resources Co. will post 1.78 EPS for the current year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.06 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.24 annualized dividend and a dividend yield of 1.49%. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insider Transactions at Permian Resources

In related news, Director Jeffrey Tepper sold 65,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $16.42, for a total value of $1,067,300.00. Following the completion of the sale, the director now directly owns 158,665 shares of the company’s stock, valued at approximately $2,605,279.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.80% of the company’s stock.

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.