Baird Financial Group Inc. Has $155,000 Position in Permian Resources Co. (NYSE:PR)

Baird Financial Group Inc. trimmed its holdings in shares of Permian Resources Co. (NYSE:PR) by 67.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,811 shares of the company’s stock after selling 22,325 shares during the period. Baird Financial Group Inc.’s holdings in Permian Resources were worth $155,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Permian Resources by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company’s stock worth $2,021,000 after acquiring an additional 662 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Permian Resources by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after purchasing an additional 700 shares during the period. CIBC Asset Management Inc lifted its stake in Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock valued at $226,000 after purchasing an additional 805 shares during the last quarter. Principal Securities Inc. grew its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Permian Resources by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock worth $1,862,000 after purchasing an additional 900 shares during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

NYSE PR opened at $13.50 on Friday. The firm has a 50-day moving average price of $12.58 and a two-hundred day moving average price of $13.90. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $16.95. The company has a market capitalization of $10.84 billion, a P/E ratio of 8.18, a P/E/G ratio of 4.05 and a beta of 1.20. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that Permian Resources Co. will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.45%. Permian Resources’s payout ratio is 37.04%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 2,804 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now owns 74,433 shares of the company’s stock, valued at approximately $1,044,294.99. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last 90 days. Insiders own 6.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Bank of America reduced their price objective on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, UBS Group raised their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

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.