Permian Resources Corporation $PR Shares Newly Acquired by Range Financial Group LLC

Range Financial Group LLC acquired a new position in shares of Permian Resources Corporation (NYSE:PR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,194 shares of the company’s stock, valued at approximately $743,000.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in shares of Permian Resources by 21.3% in the first quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock valued at $76,000 after acquiring an additional 621 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Permian Resources by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 12,153 shares of the company’s stock worth $259,000 after acquiring an additional 1,110 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Permian Resources by 1,862.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after acquiring an additional 1,341 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Permian Resources by 8.6% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 18,484 shares of the company’s stock worth $390,000 after acquiring an additional 1,471 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Permian Resources by 6.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 24,063 shares of the company’s stock worth $338,000 after acquiring an additional 1,498 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Permian Resources

In other news, EVP Guy M. Oliphint sold 5,103 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,196.25. Following the completion of the sale, the executive vice president directly owned 537,400 shares of the company’s stock, valued at $12,763,250. This represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Bell sold 5,492 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $130,435.00. Following the completion of the sale, the executive vice president owned 1,561,680 shares in the company, valued at $37,089,900. This represents a 0.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 15,699 shares of company stock valued at $372,851. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PR has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on Permian Resources from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Seaport Research Partners assumed coverage on Permian Resources in a research report on Thursday, September 3rd. They issued a “buy” rating and a $29.00 price objective for the company. Evercore started coverage on Permian Resources in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $25.00 price objective on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $29.00 price objective on shares of Permian Resources in a research note on Thursday, August 27th. Finally, Wells Fargo & Company increased their target price on Permian Resources from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $26.39.

Permian Resources Trading Up 0.2%

Shares of PR opened at $24.85 on Wednesday. The stock’s fifty day simple moving average is $22.93 and its 200-day simple moving average is $21.04. The firm has a market capitalization of $20.81 billion, a PE ratio of 16.46 and a beta of 0.66. Permian Resources Corporation has a 12-month low of $12.06 and a 12-month high of $25.21. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.25.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $0.28 EPS. Permian Resources’s revenue was up 55.1% on a year-over-year basis. As a group, research analysts predict that Permian Resources Corporation will post 2.37 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.64 annualized dividend and a yield of 2.6%. Permian Resources’s dividend payout ratio is presently 42.38%.

Permian Resources Profile

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development, and production of hydrocarbons in the Permian Basin. Its operations are concentrated in the Delaware Basin, a prolific oil-producing region spanning southeastern New Mexico and West Texas.

The company’s production portfolio includes crude oil, natural gas, and natural gas liquids. Permian Resources develops its acreage through horizontal drilling and multi-well development programs, with activities that include drilling, completion, production, and infrastructure management.