CWA Asset Management Group LLC Makes New $1.35 Million Investment in Permian Resources Co. (NYSE:PR)

CWA Asset Management Group LLC bought a new position in shares of Permian Resources Co. (NYSE:PR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 99,261 shares of the company’s stock, valued at approximately $1,351,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hexagon Capital Partners LLC increased its position in shares of Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after acquiring an additional 1,998 shares during the last quarter. Innealta Capital LLC bought a new position in Permian Resources in the 2nd quarter valued at $30,000. Transcendent Capital Group LLC purchased a new stake in shares of Permian Resources during the 1st quarter valued at $36,000. UMB Bank n.a. increased its position in shares of Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of Permian Resources during the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PR. UBS Group lowered their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Mizuho reduced their price objective on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wolfe Research assumed coverage on Permian Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. dropped their price target on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Piper Sandler lowered their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.87.

Permian Resources Trading Down 0.3 %

Shares of PR opened at $14.92 on Friday. The business’s 50-day moving average price is $13.89 and its 200-day moving average price is $15.08. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The stock has a market cap of $11.97 billion, a PE ratio of 9.04, a P/E/G ratio of 0.88 and a beta of 4.34.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.21. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.43%. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, equities analysts forecast that Permian Resources Co. will post 1.46 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 4.02%. Permian Resources’s dividend payout ratio (DPR) is currently 14.55%.

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.