Kingswood Wealth Advisors LLC Invests $143,000 in Permian Resources Corporation $PR

Kingswood Wealth Advisors LLC acquired a new position in shares of Permian Resources Corporation (NYSE:PR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,502 shares of the company’s stock, valued at approximately $143,000.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Permian Resources by 1,340.4% in the first quarter. GAMMA Investing LLC now owns 92,269 shares of the company’s stock valued at $1,278,000 after purchasing an additional 85,863 shares in the last quarter. Park Avenue Securities LLC grew its position in Permian Resources by 55.0% in the first quarter. Park Avenue Securities LLC now owns 20,457 shares of the company’s stock valued at $283,000 after purchasing an additional 7,262 shares in the last quarter. SG Americas Securities LLC grew its position in Permian Resources by 129.3% in the first quarter. SG Americas Securities LLC now owns 58,986 shares of the company’s stock valued at $817,000 after purchasing an additional 33,258 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Permian Resources by 21.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 179,769 shares of the company’s stock valued at $2,490,000 after purchasing an additional 31,812 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Permian Resources by 12.4% in the first quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company’s stock valued at $444,000 after purchasing an additional 3,547 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of PR stock opened at $12.22 on Monday. The stock has a market cap of $9.78 billion, a P/E ratio of 7.93 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. The company has a fifty day moving average price of $13.48 and a two-hundred day moving average price of $13.24. Permian Resources Corporation has a one year low of $10.01 and a one year 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, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. As a group, equities analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Tuesday, September 16th. Permian Resources’s dividend payout ratio (DPR) is currently 38.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PR shares. Scotiabank started coverage on shares of Permian Resources in a research report on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 target price for the company. Wells Fargo & Company raised their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Mizuho decreased their target price on shares of Permian Resources from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Permian Resources in a research report on Wednesday, October 8th. Finally, TD Cowen upgraded shares of Permian Resources to a “strong-buy” rating in a research note on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.69.

Insider Transactions at Permian Resources

In other news, EVP John Charles Bell sold 4,743 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total transaction of $67,398.03. Following the completion of the sale, the executive vice president owned 107,569 shares in the company, valued at approximately $1,528,555.49. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Regan Shannon sold 4,742 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total transaction of $67,431.24. Following the sale, the executive vice president owned 91,805 shares of the company’s stock, valued at approximately $1,305,467.10. This represents a 4.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

Permian Resources 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.