ORG Wealth Partners LLC Purchases 7,338 Shares of Permian Resources Corporation (NYSE:PR)

ORG Wealth Partners LLC grew its position in Permian Resources Corporation (NYSE:PR) by 344.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,471 shares of the company’s stock after buying an additional 7,338 shares during the period. ORG Wealth Partners LLC’s holdings in Permian Resources were worth $131,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. raised its stake in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources during the 4th quarter valued at $41,000. Finally, Lindbrook Capital LLC boosted its position in shares of Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after purchasing an additional 2,155 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PR has been the topic of several recent analyst reports. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Susquehanna dropped their price target on Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler cut their price objective on shares of Permian Resources from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $23.00 price objective (up from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. Finally, UBS Group boosted their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Permian Resources Stock Up 0.1%

PR stock opened at $14.70 on Friday. The company has a market capitalization of $11.81 billion, a P/E ratio of 9.07 and a beta of 1.24. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.95. The firm’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $13.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, equities research analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.08%. Permian Resources’s dividend payout ratio (DPR) is presently 37.04%.

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.