EA Series Trust purchased a new stake in shares of Permian Resources Co. (NASDAQ:PR – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,028 shares of the company’s stock, valued at approximately $439,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mizuho Markets Cayman LP purchased a new stake in Permian Resources during the first quarter worth $8,401,000. Oak Ridge Investments LLC bought a new stake in Permian Resources during the first quarter valued at about $2,223,000. CWA Asset Management Group LLC grew its stake in Permian Resources by 207.7% in the second quarter. CWA Asset Management Group LLC now owns 161,532 shares of the company’s stock valued at $1,770,000 after purchasing an additional 109,034 shares during the last quarter. WCM Investment Management LLC raised its holdings in Permian Resources by 7.8% in the second quarter. WCM Investment Management LLC now owns 1,254,506 shares of the company’s stock worth $13,800,000 after purchasing an additional 90,937 shares in the last quarter. Finally, Aventail Capital Group LP lifted its position in shares of Permian Resources by 2.3% during the first quarter. Aventail Capital Group LP now owns 5,451,898 shares of the company’s stock valued at $57,245,000 after buying an additional 122,954 shares during the last quarter. 53.49% of the stock is currently owned by institutional investors.
Permian Resources Trading Down 2.7 %
NASDAQ PR opened at $15.05 on Friday. Permian Resources Co. has a 1 year low of $8.43 and a 1 year high of $15.49. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $8.52 billion, a PE ratio of 10.17 and a beta of 4.42. The company has a fifty day moving average of $13.77 and a 200 day moving average of $11.69.
Permian Resources Announces Dividend
The company also recently announced a Special dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.05 per share. This represents a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, August 14th. Permian Resources’s dividend payout ratio (DPR) is 13.51%.
Insider Activity at Permian Resources
In other news, EVP John Charles Bell sold 4,588 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $14.84, for a total transaction of $68,085.92. Following the sale, the executive vice president now directly owns 53,517 shares in the company, valued at approximately $794,192.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John Charles Bell sold 4,588 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $14.84, for a total transaction of $68,085.92. Following the transaction, the executive vice president now owns 53,517 shares in the company, valued at approximately $794,192.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brent P. Jensen sold 400,317 shares of Permian Resources stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $11.23, for a total transaction of $4,495,559.91. Following the completion of the sale, the chief accounting officer now directly owns 1,445,931 shares in the company, valued at approximately $16,237,805.13. The disclosure for this sale can be found here. Insiders sold a total of 25,582,363 shares of company stock worth $323,964,402 in the last three months. Company insiders own 23.14% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 4th. Capital One Financial reissued an “overweight” rating on shares of Permian Resources in a research report on Monday, September 18th. Truist Financial upped their target price on Permian Resources from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Citigroup raised their price target on Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, Mizuho upped their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.
Get Our Latest Report on Permian Resources
About Permian Resources
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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico.
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