7,191 Shares in Permian Resources Corporation $PR Purchased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd purchased a new position in shares of Permian Resources Corporation (NYSE:PR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 7,191 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors also recently added to or reduced their stakes in PR. Allworth Financial LP boosted its holdings in Permian Resources by 376.7% in the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after purchasing an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Permian Resources in the 1st quarter valued at approximately $30,000. Keystone Global Partners LLC purchased a new stake in Permian Resources in the 1st quarter valued at approximately $36,000. FNY Investment Advisers LLC purchased a new stake in Permian Resources in the 2nd quarter valued at approximately $36,000. Finally, Brooklyn Investment Group boosted its holdings in Permian Resources by 433.9% in the 1st quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock valued at $43,000 after purchasing an additional 2,534 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of NYSE:PR opened at $12.49 on Friday. The business’s 50 day simple moving average is $13.27 and its 200-day simple moving average is $13.23. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 8.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.63. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, equities analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 16th. Permian Resources’s payout ratio is currently 38.96%.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,743 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total transaction of $67,398.03. Following the completion of the transaction, the executive vice president directly owned 107,569 shares in the company, valued at $1,528,555.49. The trade was a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Regan Shannon sold 4,742 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the transaction, the executive vice president owned 91,805 shares of the company’s stock, valued at $1,305,467.10. This represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PR shares. UBS Group lifted their price objective on Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Wells Fargo & Company lowered their price objective on Permian Resources from $21.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. William Blair began coverage on Permian Resources in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Raymond James Financial reduced their price target on shares of Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 2nd. Finally, Wall Street Zen lowered Permian Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $18.73.

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.