Permian Resources Corporation $PR Shares Bought by Aventail Capital Group LP

Aventail Capital Group LP raised its holdings in Permian Resources Corporation (NYSE:PR) by 42.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,139,933 shares of the company’s stock after buying an additional 339,857 shares during the period. Permian Resources makes up about 0.9% of Aventail Capital Group LP’s holdings, making the stock its 29th largest position. Aventail Capital Group LP’s holdings in Permian Resources were worth $15,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Permian Resources by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock valued at $1,057,930,000 after buying an additional 3,941,318 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Permian Resources by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after buying an additional 4,533,732 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Permian Resources by 115.5% in the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after buying an additional 13,483,136 shares in the last quarter. State Street Corp raised its stake in Permian Resources by 2.0% in the fourth quarter. State Street Corp now owns 23,553,393 shares of the company’s stock valued at $330,454,000 after buying an additional 460,158 shares in the last quarter. Finally, Boston Partners increased its position in shares of Permian Resources by 76.2% during the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock worth $222,099,000 after purchasing an additional 7,503,654 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the transaction, the executive vice president owned 542,503 shares of the company’s stock, valued at $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PR. Truist Financial lifted their target price on Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Benchmark cut Permian Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Zacks Research cut Permian Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Finally, Citigroup lifted their target price on Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Permian Resources Stock Performance

NYSE PR opened at $18.56 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67. The business’s 50-day moving average price is $20.17 and its 200 day moving average price is $17.86. The firm has a market cap of $15.54 billion, a P/E ratio of 21.58 and a beta of 0.48.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company posted $0.44 earnings per share. The business’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Permian Resources Corporation will post 2.01 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

Permian Resources 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.