AlphaMark Advisors LLC Raises Stock Holdings in Permian Resources Co. (NASDAQ:PR)

AlphaMark Advisors LLC raised its position in shares of Permian Resources Co. (NASDAQ:PR) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,390 shares of the company’s stock after buying an additional 3,192 shares during the quarter. AlphaMark Advisors LLC’s holdings in Permian Resources were worth $395,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Permian Resources by 47.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,725,462 shares of the company’s stock valued at $23,466,000 after buying an additional 554,694 shares during the last quarter. Mount Lucas Management LP bought a new position in shares of Permian Resources during the fourth quarter valued at $746,000. Tower Research Capital LLC TRC raised its position in shares of Permian Resources by 317.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 24,186 shares of the company’s stock worth $338,000 after purchasing an additional 18,398 shares during the last quarter. DRW Securities LLC bought a new position in Permian Resources in the 4th quarter worth about $1,904,000. Finally, Franklin Resources Inc. grew its position in Permian Resources by 74.2% during the 4th quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock valued at $4,783,000 after purchasing an additional 149,851 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Insiders Place Their Bets

In other Permian Resources news, Director Jeffrey Tepper sold 65,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total value of $1,067,300.00. Following the completion of the sale, the director now directly owns 158,665 shares of the company’s stock, valued at approximately $2,605,279.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PR. Stifel Nicolaus boosted their price target on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Mizuho lifted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. UBS Group raised shares of Permian Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $21.00 in a report on Friday, June 14th. Truist Financial raised their target price on shares of Permian Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Buy” and a consensus price target of $20.31.

Permian Resources Trading Down 0.3 %

PR traded down $0.05 on Monday, hitting $16.10. The company had a trading volume of 15,627,249 shares, compared to its average volume of 10,160,166. The business’s fifty day simple moving average is $16.18 and its 200 day simple moving average is $15.45. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42. Permian Resources Co. has a 12-month low of $10.31 and a 12-month high of $18.28. The company has a market cap of $12.40 billion, a PE ratio of 14.64, a PEG ratio of 0.63 and a beta of 4.37.

Permian Resources (NASDAQ:PR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Permian Resources had a return on equity of 11.43% and a net margin of 13.90%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Equities research analysts expect that Permian Resources Co. will post 1.78 EPS for the current year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 21st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Monday, May 20th. This is an increase from Permian Resources’s previous quarterly dividend of $0.05. Permian Resources’s dividend payout ratio is 21.82%.

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.