SG Americas Securities LLC Buys 288,088 Shares of Permian Resources Corporation $PR

SG Americas Securities LLC lifted its stake in Permian Resources Corporation (NYSE:PR) by 344.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 371,828 shares of the company’s stock after buying an additional 288,088 shares during the quarter. SG Americas Securities LLC’s holdings in Permian Resources were worth $5,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC grew its stake in Permian Resources by 3.5% during the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after acquiring an additional 800 shares in the last quarter. SCS Capital Management LLC lifted its stake in Permian Resources by 0.6% in the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock worth $1,923,000 after purchasing an additional 870 shares in the last quarter. Inscription Capital LLC boosted its holdings in shares of Permian Resources by 3.5% during the 3rd quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock valued at $361,000 after purchasing an additional 948 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of Permian Resources by 7.1% during the 3rd quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock valued at $188,000 after purchasing an additional 974 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Permian Resources by 18.7% during the third quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock valued at $82,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, Director Jeffrey Tepper sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $19.38, for a total value of $969,000.00. Following the completion of the sale, the director directly owned 150,546 shares in the company, valued at $2,917,581.48. This trade represents a 24.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James H. Walter sold 673,425 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 $12,377,551.50. Following the transaction, the chief executive officer directly owned 9,389,405 shares of the company’s stock, valued at $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,340,522 shares of company stock worth $89,069,383 in the last ninety days. Corporate insiders own 6.44% of the company’s stock.

Permian Resources Stock Down 3.3%

Shares of NYSE:PR opened at $20.61 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $21.99. The company has a 50-day moving average price of $18.14 and a 200 day moving average price of $15.16. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 3.18 and a beta of 0.56.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities research analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.64 annualized dividend and a dividend yield of 3.1%. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio is presently 51.20%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PR shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 target price on shares of Permian Resources in a report on Thursday, February 26th. Morgan Stanley cut their price target on Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. TD Cowen lifted their price objective on Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Truist Financial started coverage on Permian Resources in a report on Tuesday, March 24th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Piper Sandler increased their target price on Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Permian Resources has a consensus rating of “Buy” and an average target price of $21.43.

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.