Permian Resources Co. (NASDAQ:PR) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC increased its position in shares of Permian Resources Co. (NASDAQ:PR) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,690 shares of the company’s stock after acquiring an additional 781 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Permian Resources were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PR. Principal Financial Group Inc. grew its stake in shares of Permian Resources by 47.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,725,462 shares of the company’s stock worth $23,466,000 after acquiring an additional 554,694 shares in the last quarter. Mount Lucas Management LP purchased a new stake in Permian Resources during the 4th quarter worth about $746,000. DRW Securities LLC acquired a new stake in Permian Resources in the 4th quarter valued at about $1,904,000. Franklin Resources Inc. raised its position in Permian Resources by 74.2% in the 4th quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock valued at $4,783,000 after purchasing an additional 149,851 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Permian Resources by 10.4% in the 1st quarter. American International Group Inc. now owns 830,432 shares of the company’s stock valued at $14,665,000 after buying an additional 78,146 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PR shares. Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Tuesday, April 23rd. Wells Fargo & Company upped their price objective on Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Truist Financial cut their target price on Permian Resources from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wolfe Research started coverage on Permian Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Susquehanna increased their price target on shares of Permian Resources from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Permian Resources Price Performance

Shares of Permian Resources stock traded up $0.02 during trading on Monday, reaching $15.33. The company’s stock had a trading volume of 32,055,373 shares, compared to its average volume of 10,064,831. The business has a 50 day moving average price of $15.87 and a 200-day moving average price of $15.81. Permian Resources Co. has a 12-month low of $11.17 and a 12-month high of $18.28. The company has a market capitalization of $11.80 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 0.60 and a beta of 4.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42.

Permian Resources (NASDAQ:PR) last issued its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. Permian Resources had a net margin of 13.90% and a return on equity of 11.43%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. As a group, sell-side analysts anticipate that Permian Resources Co. will post 1.7 EPS for the current year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.06 per share. This is an increase from Permian Resources’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Monday, May 20th. Permian Resources’s dividend payout ratio (DPR) is 21.82%.

Insiders Place Their Bets

In related news, Director Jeffrey Tepper sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $16.42, for a total value of $1,067,300.00. Following the sale, the director now owns 158,665 shares of the company’s stock, valued at approximately $2,605,279.30. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.80% of the stock is currently owned by company insiders.

About Permian Resources

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.