Permian Resources Co. (NYSE:PR) Shares Bought by UMB Bank n.a.

UMB Bank n.a. grew its stake in shares of Permian Resources Co. (NYSE:PR) by 61.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,500 shares of the company’s stock after purchasing an additional 1,709 shares during the period. UMB Bank n.a.’s holdings in Permian Resources were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its holdings in Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after buying an additional 1,998 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources during the 4th quarter valued at approximately $31,000. Sunbelt Securities Inc. boosted its stake in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the period. Finally, National Bank of Canada FI acquired a new position in Permian Resources during the third quarter worth $45,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $15.23 on Friday. The stock has a market capitalization of $12.23 billion, a P/E ratio of 9.23, a PEG ratio of 4.60 and a beta of 4.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average price is $14.97 and its 200 day moving average price is $14.63. Permian Resources Co. has a twelve month low of $12.59 and a twelve month high of $18.28.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, research analysts anticipate that Permian Resources Co. will post 1.44 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were issued a $0.15 dividend. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. Wells Fargo & Company reduced their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Morgan Stanley assumed coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. The Goldman Sachs Group initiated coverage on Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Truist Financial raised their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.06.

Permian Resources Company 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.