16,170 Shares in Permian Resources Co. (NYSE:PR) Bought by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV bought a new position in Permian Resources Co. (NYSE:PR) during the third quarter, according to its most recent filing with the SEC. The firm bought 16,170 shares of the company’s stock, valued at approximately $220,000.

A number of other large investors also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its stake 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 acquiring an additional 1,998 shares in the last quarter. Innealta Capital LLC bought a new position in Permian Resources during the 2nd quarter valued at $30,000. Transcendent Capital Group LLC bought a new position in Permian Resources during the 1st quarter valued at $36,000. UMB Bank n.a. lifted its stake in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in Permian Resources during the 2nd quarter valued at $40,000. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PR shares. The Goldman Sachs Group started coverage on Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 target price for the company. UBS Group decreased their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial raised their target price on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup decreased their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Mizuho decreased their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and an average price target of $18.87.

Permian Resources Stock Up 1.3 %

Shares of NYSE PR opened at $15.18 on Friday. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28. The business has a 50-day simple moving average of $14.00 and a two-hundred day simple moving average of $15.03. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market cap of $12.18 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.91 and a beta of 4.34.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. Research analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.95%. Permian Resources’s payout ratio is presently 14.55%.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by insiders.

Permian Resources 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.