Permian Resources Corporation $PR Stock Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lessened its stake in shares of Permian Resources Corporation (NYSE:PR) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,792,205 shares of the company’s stock after selling 82,618 shares during the period. Permian Resources accounts for approximately 1.9% of Leeward Investments LLC MA’s investment portfolio, making the stock its 5th biggest position. Leeward Investments LLC MA owned approximately 0.21% of Permian Resources worth $37,851,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in Permian Resources by 21.3% in the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock worth $76,000 after buying an additional 621 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Permian Resources by 1.6% during the third quarter. Quadrant Capital Group LLC now owns 40,003 shares of the company’s stock valued at $845,000 after acquiring an additional 635 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Permian Resources by 0.5% during the third quarter. Yousif Capital Management LLC now owns 217,158 shares of the company’s stock valued at $4,586,000 after acquiring an additional 997 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Permian Resources by 10.1% during the first quarter. Parallel Advisors LLC now owns 12,153 shares of the company’s stock valued at $259,000 after acquiring an additional 1,110 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Permian Resources by 1,862.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after acquiring an additional 1,341 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 0.2%

PR stock opened at $25.54 on Monday. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 16.92 and a beta of 0.66. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.25. Permian Resources Corporation has a 12 month low of $12.06 and a 12 month high of $25.68. The firm has a 50-day moving average of $23.14 and a two-hundred day moving average of $21.11.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. As a group, analysts forecast that Permian Resources Corporation will post 2.43 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. Permian Resources’s dividend payout ratio (DPR) is presently 42.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PR. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Permian Resources in a research note on Thursday, September 24th. Wells Fargo & Company increased their price objective on Permian Resources from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Truist Financial raised their price objective on Permian Resources from $24.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 12th. Seaport Research Partners initiated coverage on Permian Resources in a report on Thursday, September 3rd. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Scotiabank started coverage on shares of Permian Resources in a research note on Wednesday, October 14th. They set a “sector outperform” rating and a $29.00 target price on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Permian Resources currently has a consensus rating of “Buy” and an average price target of $26.39.

Insiders Place Their Bets

In other Permian Resources news, EVP Guy Oliphint sold 5,103 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total transaction of $121,196.25. Following the transaction, the executive vice president owned 537,400 shares of the company’s stock, valued at approximately $12,763,250. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Robert Shannon sold 5,104 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total value of $121,220.00. Following the completion of the sale, the executive vice president owned 1,346,698 shares of the company’s stock, valued at approximately $31,984,077.50. The trade was a 0.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 15,699 shares of company stock valued at $372,851. Insiders own 5.00% of the company’s stock.

Permian Resources Company Profile

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development, and production of hydrocarbons in the Permian Basin. Its operations are concentrated in the Delaware Basin, a prolific oil-producing region spanning southeastern New Mexico and West Texas.

The company’s production portfolio includes crude oil, natural gas, and natural gas liquids. Permian Resources develops its acreage through horizontal drilling and multi-well development programs, with activities that include drilling, completion, production, and infrastructure management.