Regent Peak Wealth Advisors LLC Purchases New Position in Permian Resources Co. (NYSE:PR)

Regent Peak Wealth Advisors LLC acquired a new position in Permian Resources Co. (NYSE:PR) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 12,858 shares of the company’s stock, valued at approximately $185,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its position in Permian Resources by 17.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 38,574 shares of the company’s stock valued at $623,000 after purchasing an additional 5,680 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Permian Resources during the second quarter valued at about $2,713,000. Bridges Investment Management Inc. bought a new position in Permian Resources in the second quarter worth about $229,000. 1832 Asset Management L.P. lifted its holdings in Permian Resources by 15.2% in the second quarter. 1832 Asset Management L.P. now owns 1,522,958 shares of the company’s stock worth $24,596,000 after buying an additional 200,577 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Permian Resources by 13,902.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,642 shares of the company’s stock valued at $163,000 after acquiring an additional 10,566 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PR shares. Benchmark lowered their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group began coverage on Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Monday, October 14th. Morgan Stanley began coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Finally, Piper Sandler decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.06.

Insider Activity

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.80% of the company’s stock.

Permian Resources Price Performance

Shares of PR opened at $16.01 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The firm has a market cap of $12.86 billion, a PE ratio of 9.70, a P/E/G ratio of 4.71 and a beta of 4.32. The firm has a fifty day simple moving average of $14.94 and a two-hundred day simple moving average of $14.62.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating 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 net margin of 21.20% and a return on equity of 11.15%. The firm’s revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that Permian Resources Co. will post 1.44 EPS for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.75%. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio (DPR) is 36.36%.

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.