Permian Resources Corporation $PR Holdings Raised by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV grew its stake in shares of Permian Resources Corporation (NYSE:PR) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 68,518 shares of the company’s stock after acquiring an additional 4,337 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Permian Resources were worth $933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PR. Allworth Financial LP raised its position in shares of Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock worth $29,000 after buying an additional 1,635 shares in the last quarter. Keystone Global Partners LLC bought a new stake in Permian Resources during the first quarter worth approximately $36,000. FNY Investment Advisers LLC bought a new stake in Permian Resources during the second quarter worth approximately $36,000. Brooklyn Investment Group raised its holdings in Permian Resources by 433.9% during the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock worth $43,000 after purchasing an additional 2,534 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Permian Resources by 204.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,825 shares of the company’s stock worth $52,000 after buying an additional 2,568 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PR. Morgan Stanley boosted their price objective on Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Scotiabank assumed coverage on shares of Permian Resources in a report on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 price target for the company. Weiss Ratings downgraded shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. TD Cowen raised shares of Permian Resources to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Piper Sandler increased their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.73.

Permian Resources Trading Up 1.2%

Shares of NYSE PR opened at $12.56 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.34. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 8.15 and a beta of 1.32. The business has a fifty day simple moving average of $13.19 and a 200-day simple moving average of $13.31.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 16th. Permian Resources’s dividend payout ratio is 38.96%.

Insider Activity at Permian Resources

In other news, EVP Robert Regan Shannon sold 4,742 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the sale, the executive vice president owned 91,805 shares in the company, valued at $1,305,467.10. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Charles Bell sold 4,743 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the sale, the executive vice president owned 107,569 shares of the company’s stock, valued at $1,528,555.49. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.44% of the stock is currently owned by corporate insiders.

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.