Permian Resources Corporation $PR Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lifted its stake in shares of Permian Resources Corporation (NYSE:PR) by 72.5% during the second quarter, Holdings Channel reports. The fund owned 1,689,122 shares of the company’s stock after acquiring an additional 709,870 shares during the period. Westwood Holdings Group Inc.’s holdings in Permian Resources were worth $23,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Permian Resources by 154.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock worth $31,000 after purchasing an additional 1,391 shares in the last quarter. Keystone Global Partners LLC purchased a new position in shares of Permian Resources in the 1st quarter valued at about $36,000. FNY Investment Advisers LLC acquired a new position in shares of Permian Resources during the second quarter worth about $36,000. Parkside Financial Bank & Trust increased its stake in shares of Permian Resources by 90.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after buying an additional 1,357 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of 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 buying an additional 2,534 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Down 0.2%

PR opened at $14.64 on Monday. Permian Resources Corporation has a one year low of $10.01 and a one year high of $16.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $12.14 billion, a P/E ratio of 13.43 and a beta of 0.69. The business’s 50-day simple moving average is $13.36 and its 200-day simple moving average is $13.60.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, December 17th. Permian Resources’s dividend payout ratio is presently 55.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Permian Resources in a report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 8th. Piper Sandler dropped their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Scotiabank started coverage on Permian Resources in a research note on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and an average price target of $19.07.

Permian Resources Company 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.