Hilltop National Bank Invests $58,000 in Permian Resources Co. (NYSE:PR)

Hilltop National Bank bought a new position in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,000 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Regent Peak Wealth Advisors LLC bought a new stake in shares of Permian Resources during the fourth quarter worth $185,000. Oliver Luxxe Assets LLC lifted its position in shares of Permian Resources by 19.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 176,892 shares of the company’s stock worth $2,544,000 after purchasing an additional 28,436 shares during the last quarter. CWA Asset Management Group LLC lifted its position in shares of Permian Resources by 11.0% during the fourth quarter. CWA Asset Management Group LLC now owns 110,206 shares of the company’s stock worth $1,585,000 after purchasing an additional 10,945 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Permian Resources by 1.5% during the fourth quarter. Nordea Investment Management AB now owns 278,054 shares of the company’s stock worth $4,007,000 after purchasing an additional 4,115 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Permian Resources by 57.9% in the fourth quarter. GAMMA Investing LLC now owns 6,406 shares of the company’s stock valued at $92,000 after acquiring an additional 2,348 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on PR shares. The Goldman Sachs Group started coverage on Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective for the company. Piper Sandler cut 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, December 17th. Wells Fargo & Company cut their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Mizuho cut their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Benchmark cut their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned 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 an average price target of $18.88.

Permian Resources Trading Up 1.1 %

Shares of NYSE:PR opened at $15.15 on Friday. Permian Resources Co. has a 12-month low of $12.59 and a 12-month high of $18.28. The company has a market capitalization of $12.17 billion, a PE ratio of 9.18, a PEG ratio of 0.88 and a beta of 4.32. The business has a 50 day moving average of $14.79 and a two-hundred day moving average of $14.66. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business’s quarterly revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. As a group, analysts forecast that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were issued a $0.15 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

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.