24,778 Shares in Permian Resources Corporation $PR Acquired by Leonteq Securities AG

Leonteq Securities AG purchased a new position in Permian Resources Corporation (NYSE:PR) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,778 shares of the company’s stock, valued at approximately $348,000.

Several other hedge funds have also made changes to their positions in the stock. Boston Partners raised its stake in Permian Resources by 76.2% during the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after acquiring an additional 7,503,654 shares in the last quarter. Vanguard Group Inc. raised its stake in Permian Resources by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after acquiring an additional 6,705,644 shares in the last quarter. Millennium Management LLC raised its stake in Permian Resources by 210.6% during the 3rd quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock valued at $126,081,000 after acquiring an additional 6,678,814 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Permian Resources by 20.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock valued at $346,919,000 after acquiring an additional 4,691,280 shares in the last quarter. Finally, Merewether Investment Management LP raised its stake in Permian Resources by 63.5% during the 3rd quarter. Merewether Investment Management LP now owns 8,836,137 shares of the company’s stock valued at $113,103,000 after acquiring an additional 3,431,900 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PR shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 target price on shares of Permian Resources in a research note on Thursday, February 26th. TD Cowen lifted their target price on Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Scotiabank lifted their target price on Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets raised Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company lifted their target price on Permian Resources from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.38.

Permian Resources Stock Up 0.1%

Shares of PR stock opened at $20.45 on Friday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The stock has a market cap of $17.12 billion, a PE ratio of 23.78 and a beta of 0.52. The business’s fifty day moving average is $20.53 and its 200-day moving average is $17.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.1%. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Insider Activity at Permian Resources

In other news, CEO William M. Hickey III sold 898,423 shares of Permian Resources stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the transaction, the chief executive officer directly owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. This trade represents a 8.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 158,385 shares of Permian Resources stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.39, for a total value of $2,912,700.15. Following the transaction, the executive vice president owned 1,567,172 shares in the company, valued at approximately $28,820,293.08. This trade represents a 9.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,192,835 shares of company stock worth $60,120,653 in the last quarter. Company insiders own 5.00% of the company’s stock.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.