Permian Resources Corporation $PR Stock Holdings Decreased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in shares of Permian Resources Corporation (NYSE:PR) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 31,318,472 shares of the company’s stock after selling 317,100 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Permian Resources were worth $667,723,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. SHP Wealth Management acquired a new position in Permian Resources in the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in Permian Resources by 1,862.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after purchasing an additional 1,341 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Permian Resources during the 4th quarter valued at $39,000. State of Wyoming raised its stake in Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after purchasing an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC purchased a new stake in shares of Permian Resources in the first quarter valued at $48,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

PR opened at $20.20 on Monday. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 23.49 and a beta of 0.46. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $19.44 and a 200 day moving average price of $18.56.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating 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 the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Analysts forecast that Permian Resources Corporation will post 1.93 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. Permian Resources’s payout ratio is presently 74.42%.

Analyst Upgrades and Downgrades

PR has been the subject of several recent analyst reports. KeyCorp began coverage on Permian Resources in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 target price for the company. Wells Fargo & Company set a $26.00 price target on Permian Resources in a research report on Monday, May 25th. Mizuho increased their price objective on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research lowered Permian Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Truist Financial lowered their target price on Permian Resources from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $23.29.

Insider Activity at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.

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.