American Trust Sells 996 Shares of Permian Resources Co. (NYSE:PR)

American Trust lessened its stake in shares of Permian Resources Co. (NYSE:PR) by 5.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,102 shares of the company’s stock after selling 996 shares during the period. American Trust’s holdings in Permian Resources were worth $260,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Permian Resources by 59.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock worth $194,585,000 after acquiring an additional 4,497,184 shares in the last quarter. Merewether Investment Management LP lifted its position in shares of Permian Resources by 148.1% in the 2nd quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock worth $95,292,000 after purchasing an additional 3,522,300 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Permian Resources by 16,359.8% during the second quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company’s stock valued at $56,089,000 after purchasing an additional 3,451,923 shares in the last quarter. Yaupon Capital Management LP increased its holdings in Permian Resources by 225.0% during the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after buying an additional 2,595,137 shares during the period. Finally, Geode Capital Management LLC raised its stake in Permian Resources by 17.6% in the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after buying an additional 1,638,618 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Down 0.5 %

NYSE:PR opened at $14.68 on Friday. 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 firm has a fifty day simple moving average of $14.67 and a 200-day simple moving average of $14.84. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The company has a market capitalization of $11.79 billion, a P/E ratio of 8.90, a PEG ratio of 0.90 and a beta of 4.35.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The company 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 firm’s revenue was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The firm 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 represents a $0.60 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is 36.36%.

Analyst Ratings Changes

PR has been the topic of several recent research reports. Mizuho dropped their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company dropped their price objective on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Benchmark decreased their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Susquehanna cut their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Piper Sandler boosted their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.93.

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.