Voya Investment Management LLC Decreases Stake in Permian Resources Corporation $PR

Voya Investment Management LLC cut its position in shares of Permian Resources Corporation (NYSE:PR) by 46.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 82,689 shares of the company’s stock after selling 72,031 shares during the period. Voya Investment Management LLC’s holdings in Permian Resources were worth $1,058,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Permian Resources by 154.4% in 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 during the period. FNY Investment Advisers LLC purchased a new position in shares of Permian Resources during the second quarter valued at approximately $36,000. Parkside Financial Bank & Trust grew 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 valued at $39,000 after buying an additional 1,357 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Permian Resources by 204.3% in the second 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 during the period. Finally, LRI Investments LLC bought a new stake in shares of Permian Resources during the 2nd quarter worth approximately $54,000. Institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

PR has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. UBS Group upped their price target on shares of Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Morgan Stanley reiterated an “overweight” rating on shares of Permian Resources in a report on Thursday, November 20th. Royal Bank Of Canada boosted their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group raised their target price on shares of Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.07.

Permian Resources Price Performance

Shares of PR stock opened at $14.19 on Wednesday. The stock’s 50-day moving average is $13.73 and its 200 day moving average is $13.64. Permian Resources Corporation has a 1-year low of $10.01 and a 1-year high of $16.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $11.76 billion, a P/E ratio of 13.01 and a beta of 0.70.

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

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.15 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.2%. Permian Resources’s dividend payout ratio is currently 55.05%.

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.