Permian Resources Co. (NYSE:PR) Stake Increased by Tributary Capital Management LLC

Tributary Capital Management LLC increased its holdings in shares of Permian Resources Co. (NYSE:PR) by 65.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,805 shares of the company’s stock after buying an additional 33,448 shares during the quarter. Tributary Capital Management LLC’s holdings in Permian Resources were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PR. Hexagon Capital Partners LLC boosted its position in Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources during the fourth quarter worth approximately $31,000. UMB Bank n.a. grew its position in Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after purchasing an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares during the period. Finally, Blue Trust Inc. lifted its position in Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after buying an additional 2,629 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PR shares. Piper Sandler dropped their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial raised their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. The Goldman Sachs Group initiated coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Benchmark decreased their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.06.

Permian Resources Trading Down 2.3 %

Shares of PR stock opened at $15.23 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. Permian Resources Co. has a 1 year low of $12.59 and a 1 year high of $18.28. The firm’s fifty day simple moving average is $14.97 and its 200 day simple moving average is $14.63. The firm has a market capitalization of $12.23 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 4.60 and a beta of 4.32.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. As a group, sell-side analysts predict that Permian Resources Co. will post 1.44 EPS for the current year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.94%. Permian Resources’s payout ratio is currently 36.36%.

Insider Activity at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction on Friday, January 3rd. The shares were 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 owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.80% of the stock is currently owned by corporate insiders.

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.