Icon Wealth Advisors LLC Has $87,000 Holdings in Permian Resources Co. (NYSE:PR)

Icon Wealth Advisors LLC decreased its stake in Permian Resources Co. (NYSE:PR) by 95.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,380 shares of the company’s stock after selling 123,151 shares during the period. Icon Wealth Advisors LLC’s holdings in Permian Resources were worth $87,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Permian Resources by 101.2% during the 1st quarter. Advisors Asset Management Inc. now owns 39,576 shares of the company’s stock worth $699,000 after buying an additional 19,909 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Permian Resources by 21.8% in the first quarter. Lazard Asset Management LLC now owns 18,322 shares of the company’s stock worth $323,000 after buying an additional 3,279 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Permian Resources by 480.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock valued at $106,924,000 after buying an additional 5,012,287 shares during the period. Mount Yale Investment Advisors LLC grew its stake in Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after buying an additional 781 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Permian Resources by 88.3% during the 1st quarter. Janus Henderson Group PLC now owns 330,382 shares of the company’s stock valued at $5,833,000 after purchasing an additional 154,907 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Activity

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the firm’s 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 transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This trade represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PR shares. Citigroup decreased their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. 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 report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. UBS Group reduced their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Piper Sandler increased their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and an average price target of $18.93.

Permian Resources Stock Up 1.4 %

Shares of Permian Resources stock opened at $16.21 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.97 and a beta of 4.34. The firm’s 50-day moving average is $14.28 and its two-hundred day moving average is $14.93. 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 quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources’s revenue was up 60.3% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. As a group, research analysts expect that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.70%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. Permian Resources’s dividend payout ratio is presently 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.