Secure Asset Management LLC Grows Stock Holdings in Permian Resources Co. (NYSE:PR)

Secure Asset Management LLC boosted its holdings in Permian Resources Co. (NYSE:PR) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,896 shares of the company’s stock after buying an additional 12,338 shares during the quarter. Secure Asset Management LLC’s holdings in Permian Resources were worth $1,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its holdings in shares of 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 purchasing an additional 800 shares during the last quarter. Avior Wealth Management LLC grew its stake in Permian Resources by 0.9% during the 3rd quarter. Avior Wealth Management LLC now owns 114,601 shares of the company’s stock worth $1,560,000 after buying an additional 1,007 shares during the last quarter. Icon Wealth Advisors LLC increased its position in Permian Resources by 1.0% during the third quarter. Icon Wealth Advisors LLC now owns 130,880 shares of the company’s stock worth $1,781,000 after buying an additional 1,349 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Permian Resources by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 184,475 shares of the company’s stock valued at $2,511,000 after buying an additional 1,370 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after acquiring an additional 1,390 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Down 0.5 %

PR stock opened at $15.57 on Friday. Permian Resources Co. has a one year low of $12.59 and a one year high of $18.28. The stock has a market capitalization of $12.51 billion, a P/E ratio of 9.43, a PEG ratio of 4.60 and a beta of 4.32. The company has a 50 day moving average price of $14.96 and a two-hundred day moving average price of $14.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

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

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.85%. Permian Resources’s payout ratio is currently 36.36%.

Insider Buying and Selling

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

PR has been the topic of a number of recent research reports. Piper Sandler dropped their price objective 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. The Goldman Sachs Group began coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 price objective for the company. Benchmark lowered their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Truist Financial upped their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, 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 price objective on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.06.

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.