Avior Wealth Management LLC Boosts Stock Holdings in Permian Resources Co. (NASDAQ:PR)

Avior Wealth Management LLC increased its position in shares of Permian Resources Co. (NASDAQ:PR) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,950 shares of the company’s stock after buying an additional 6,379 shares during the period. Avior Wealth Management LLC’s holdings in Permian Resources were worth $462,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PR. DekaBank Deutsche Girozentrale acquired a new stake in Permian Resources in the fourth quarter valued at approximately $33,000. Quarry LP acquired a new stake in Permian Resources in the 1st quarter valued at $33,000. Clearstead Advisors LLC purchased a new stake in Permian Resources in the 3rd quarter worth $45,000. Optimum Investment Advisors acquired a new position in Permian Resources during the fourth quarter worth $50,000. Finally, Sandia Investment Management LP purchased a new position in Permian Resources during the first quarter valued at $52,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PR shares. Wells Fargo & Company boosted their target price on shares of Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America assumed coverage on Permian Resources in a report on Friday, January 5th. They set a “neutral” rating and a $15.00 target price for the company. Raymond James started coverage on Permian Resources in a research note on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 price target on the stock. Truist Financial dropped their price target on Permian Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Insider Buying and Selling at Permian Resources

In related news, Director Robert John Anderson sold 1,000,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $15,710,000.00. Following the sale, the director now directly owns 476,306 shares in the company, valued at approximately $7,482,767.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robert John Anderson sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $15,710,000.00. Following the completion of the transaction, the director now owns 476,306 shares of the company’s stock, valued at approximately $7,482,767.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Quinn sold 18,076,849 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $15.71, for a total value of $283,987,297.79. Following the completion of the sale, the director now directly owns 71,056,620 shares in the company, valued at approximately $1,116,299,500.20. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 over the last quarter. 23.14% of the stock is currently owned by company insiders.

Permian Resources Trading Down 2.0 %

Shares of PR opened at $17.19 on Friday. Permian Resources Co. has a 12-month low of $8.94 and a 12-month high of $18.28. The firm has a market capitalization of $13.27 billion, a P/E ratio of 13.29 and a beta of 4.35. The firm has a 50-day moving average price of $16.31 and a 200 day moving average price of $14.52. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Sell-side analysts forecast that Permian Resources Co. will post 1.71 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 annualized dividend and a yield of 1.16%. Permian Resources’s dividend payout ratio (DPR) is 17.24%.

About Permian Resources

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.