Permian Resources Co. (NYSE:PR) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its holdings in shares of Permian Resources Co. (NYSE:PR) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,770 shares of the company’s stock after selling 2,831 shares during the period. Avior Wealth Management LLC’s holdings in Permian Resources were worth $1,607,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PR. Hexagon Capital Partners LLC boosted its position in Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources during the fourth quarter valued at $31,000. UMB Bank n.a. grew its position in shares of Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after acquiring an additional 1,390 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 2,629 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Stock Down 0.5 %

NYSE PR opened at $15.57 on Friday. The company has a market capitalization of $12.51 billion, a P/E ratio of 9.43, a PEG ratio of 4.60 and a beta of 4.32. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The company’s 50 day simple moving average is $14.96 and its 200 day simple moving average is $14.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources (NYSE:PR) last released its quarterly earnings data 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 analyst estimates of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company’s revenue was up 60.3% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. Equities research analysts expect that Permian Resources Co. will post 1.44 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.85%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is currently 36.36%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PR shares. Benchmark decreased their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Monday, October 14th. The Goldman Sachs Group initiated coverage on Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price target for the company. Truist Financial raised their price target on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.06.

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.