Leonteq Securities AG Makes New Investment in Permian Resources Corporation $PR

Leonteq Securities AG purchased a new position in Permian Resources Corporation (NYSE:PR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 24,778 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV boosted its holdings in Permian Resources by 2.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 75,110 shares of the company’s stock worth $1,054,000 after acquiring an additional 1,513 shares during the period. Covestor Ltd boosted its holdings in Permian Resources by 10.2% in the 4th quarter. Covestor Ltd now owns 18,084 shares of the company’s stock worth $254,000 after acquiring an additional 1,676 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Permian Resources by 24.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 82,112 shares of the company’s stock worth $1,152,000 after acquiring an additional 15,900 shares during the period. HighTower Advisors LLC boosted its holdings in Permian Resources by 55.2% in the 4th quarter. HighTower Advisors LLC now owns 259,403 shares of the company’s stock worth $3,639,000 after acquiring an additional 92,309 shares during the period. Finally, Requisite Capital Management LLC boosted its holdings in Permian Resources by 55.7% in the 4th quarter. Requisite Capital Management LLC now owns 66,830 shares of the company’s stock worth $938,000 after acquiring an additional 23,919 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

PR has been the topic of several analyst reports. Citigroup lifted their price objective on Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Benchmark downgraded Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Truist Financial lifted their price objective on Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Zacks Research upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, March 27th. Finally, Morgan Stanley restated an “overweight” rating on shares of Permian Resources in a report on Friday, March 27th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.38.

Insiders Place Their Bets

In related news, EVP Guy M. Oliphint sold 62,769 shares of the firm’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 sale, the executive vice president owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Tepper sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $19.38, for a total value of $969,000.00. Following the completion of the sale, the director directly owned 150,546 shares in the company, valued at approximately $2,917,581.48. This trade represents a 24.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,192,835 shares of company stock worth $60,120,653. 5.00% of the stock is currently owned by insiders.

Permian Resources Price Performance

Shares of PR opened at $20.45 on Friday. The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 23.78 and a beta of 0.52. The stock has a 50 day moving average of $20.53 and a 200-day moving average of $17.07. The company has a current ratio of 0.66, a quick 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.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. As a group, analysts forecast that Permian Resources Corporation will post 1.97 EPS for the current year.

Permian Resources Announces Dividend

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 $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.1%. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

About Permian Resources

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.