Curated Wealth Partners LLC Cuts Stake in Permian Resources Co. (NYSE:PR)

Curated Wealth Partners LLC decreased its stake in Permian Resources Co. (NYSE:PR) by 26.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,854 shares of the company’s stock after selling 25,000 shares during the period. Curated Wealth Partners LLC’s holdings in Permian Resources were worth $967,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of 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 valued at $2,021,000 after acquiring an additional 662 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Permian Resources by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock worth $2,540,000 after acquiring an additional 700 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Permian Resources by 5.4% in the fourth 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 stake in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Permian Resources by 0.7% during the 4th 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 last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna cut their target price on Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Bank of America increased their price target on shares of Permian Resources from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Royal Bank of Canada boosted their price objective on Permian Resources from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 16th. The Goldman Sachs Group increased their target price on Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Morgan Stanley decreased their target price on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.56.

Permian Resources Stock Performance

Shares of NYSE PR opened at $13.79 on Tuesday. The stock has a 50 day simple moving average of $12.33 and a 200-day simple moving average of $13.69. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market cap of $11.08 billion, a PE ratio of 8.36, a P/E/G ratio of 4.05 and a beta of 1.24. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $16.95.

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

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. Permian Resources’s dividend payout ratio (DPR) is 37.04%.

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.