Captrust Financial Advisors Increases Stock Position in Permian Resources Co. (NYSE:PR)

Captrust Financial Advisors grew its stake in Permian Resources Co. (NYSE:PR) by 6.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 41,942 shares of the company’s stock after acquiring an additional 2,397 shares during the period. Captrust Financial Advisors’ holdings in Permian Resources were worth $571,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its stake in shares of Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the period. Innealta Capital LLC purchased a new position in Permian Resources in the 2nd quarter valued at approximately $30,000. UMB Bank n.a. grew its stake in shares of Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after acquiring an additional 1,390 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Permian Resources during the second quarter worth $40,000. Finally, Blue Trust Inc. raised its stake in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 2,629 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PR has been the subject of a number of research analyst reports. Truist Financial upped their price target on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 8th. Susquehanna dropped their target price 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. Piper Sandler boosted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a report on Monday, October 14th. Finally, The Goldman Sachs Group initiated coverage on Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 target price for the company. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.93.

Permian Resources Stock Up 1.7 %

NYSE:PR opened at $15.02 on Thursday. The business’s fifty day moving average price is $14.66 and its 200 day moving average price is $14.85. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.88 and a beta of 4.35. 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 $12.47 and a 1-year high of $18.28.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $0.36 EPS. Permian Resources’s revenue for the quarter was up 60.3% on a year-over-year basis. On average, sell-side analysts forecast that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s dividend payout ratio is presently 36.36%.

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.