Advisor Resource Council Invests $770,000 in Permian Resources Corporation (NYSE:PR)

Advisor Resource Council purchased a new stake in Permian Resources Corporation (NYSE:PR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,847 shares of the company’s stock, valued at approximately $770,000.

Several other institutional investors have also bought and sold shares of PR. Principal Securities Inc. boosted its stake in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC acquired a new stake in Permian Resources in the 4th quarter valued at $41,000. Finally, Lindbrook Capital LLC boosted its stake in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after buying an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

PR has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Morgan Stanley cut their price objective on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Piper Sandler cut their price objective on Permian Resources from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Susquehanna cut their price objective on Permian Resources from $20.00 to $19.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Permian Resources Trading Up 0.4%

PR stock opened at $14.75 on Friday. The company has a market cap of $11.85 billion, a P/E ratio of 9.10 and a beta of 1.24. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $16.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $12.96 and a 200-day moving average of $13.65.

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

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a yield of 4.07%. Permian Resources’s dividend payout ratio is presently 37.04%.

About Permian Resources

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.