Kestra Advisory Services LLC Decreases Stock Holdings in Permian Resources Corporation $PR

Kestra Advisory Services LLC reduced its position in shares of Permian Resources Corporation (NYSE:PR) by 15.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 254,454 shares of the company’s stock after selling 45,773 shares during the quarter. Kestra Advisory Services LLC’s holdings in Permian Resources were worth $5,425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PR. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Permian Resources by 4.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after buying an additional 607 shares in the last quarter. Waterloo Capital L.P. grew its position in Permian Resources by 3.1% in the fourth quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock worth $305,000 after acquiring an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Permian Resources by 5.4% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock worth $192,000 after acquiring an additional 706 shares during the last quarter. Curated Wealth Partners LLC raised its position in Permian Resources by 1.1% during the fourth quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after purchasing an additional 747 shares during the period. Finally, Dean Investment Associates LLC boosted its holdings in shares of Permian Resources by 0.3% in the 4th quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock worth $3,727,000 after purchasing an additional 922 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Transactions at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the transaction, the executive vice president owned 542,503 shares of the company’s stock, valued at $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.

Permian Resources Price Performance

Shares of PR stock opened at $19.62 on Thursday. Permian Resources Corporation has a twelve month low of $11.92 and a twelve month high of $22.67. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 22.82 and a beta of 0.46. The stock has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $18.48. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Permian Resources Corporation will post 1.89 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

Analyst Upgrades and Downgrades

Several research firms have commented on PR. Wells Fargo & Company set a $26.00 price objective on shares of Permian Resources in a research note on Monday, May 25th. Morgan Stanley reduced their price objective on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Scotiabank raised their price objective on shares of Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Citigroup cut their target price on Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Roth Capital set a $23.00 price target on Permian Resources and gave the stock a “buy” rating in a research note on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Permian Resources currently has an average rating of “Buy” and a consensus target price of $23.24.

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.