First Hawaiian Bank Has $1.30 Million Holdings in Permian Resources Co. (NASDAQ:PR)

First Hawaiian Bank lifted its holdings in shares of Permian Resources Co. (NASDAQ:PR) by 54.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,532 shares of the company’s stock after buying an additional 28,285 shares during the quarter. First Hawaiian Bank’s holdings in Permian Resources were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Permian Resources by 19.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after acquiring an additional 716 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in Permian Resources by 2.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after purchasing an additional 740 shares in the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Permian Resources by 3.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after purchasing an additional 781 shares during the period. Chilton Capital Management LLC boosted its position in shares of Permian Resources by 4.6% during the first quarter. Chilton Capital Management LLC now owns 22,868 shares of the company’s stock worth $404,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Permian Resources by 9.4% in the 4th quarter. Truist Financial Corp now owns 12,653 shares of the company’s stock valued at $172,000 after buying an additional 1,086 shares during the period. 91.84% of the stock is owned by institutional investors.

Permian Resources Price Performance

NASDAQ PR traded up $0.40 during midday trading on Tuesday, hitting $13.84. The company had a trading volume of 7,370,527 shares, compared to its average volume of 10,172,391. The company has a market capitalization of $10.66 billion, a PE ratio of 12.23, a P/E/G ratio of 0.53 and a beta of 4.37. Permian Resources Co. has a twelve month low of $11.78 and a twelve month high of $18.28. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $15.72 and a 200-day moving average price of $15.87.

Permian Resources (NASDAQ:PR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Permian Resources had a net margin of 13.90% and a return on equity of 11.43%. As a group, analysts anticipate that Permian Resources Co. will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey Tepper sold 65,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total transaction of $1,067,300.00. Following the sale, the director now directly owns 158,665 shares of the company’s stock, valued at approximately $2,605,279.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PR. Mizuho upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Benchmark restated a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a report on Tuesday, April 23rd. UBS Group raised Permian Resources from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $21.00 in a research report on Friday, June 14th. Piper Sandler boosted their target price on Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Bank of America reaffirmed a “buy” rating and set a $20.00 price target on shares of Permian Resources in a research note on Friday, June 14th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and an average target price of $20.50.

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.