Tributary Capital Management LLC Buys 3,553 Shares of Permian Resources Corporation $PR

Tributary Capital Management LLC increased its stake in shares of Permian Resources Corporation (NYSE:PR) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,968 shares of the company’s stock after buying an additional 3,553 shares during the quarter. Tributary Capital Management LLC’s holdings in Permian Resources were worth $1,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. lifted its position in shares of Permian Resources by 12.6% during the 2nd quarter. UMB Bank n.a. now owns 6,953 shares of the company’s stock worth $95,000 after buying an additional 778 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Permian Resources by 30.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company’s stock worth $54,000 after buying an additional 921 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of Permian Resources by 5.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 20,404 shares of the company’s stock worth $283,000 after buying an additional 986 shares during the period. Vident Advisory LLC raised its position in Permian Resources by 9.9% in the 1st quarter. Vident Advisory LLC now owns 11,321 shares of the company’s stock valued at $157,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Permian Resources by 1.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 64,181 shares of the company’s stock valued at $889,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Insiders Place Their Bets

In other Permian Resources news, EVP John Charles Bell sold 4,743 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the transaction, the executive vice president directly owned 107,569 shares of the company’s stock, valued at approximately $1,528,555.49. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Regan Shannon sold 4,742 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the transaction, the executive vice president directly owned 91,805 shares of the company’s stock, valued at approximately $1,305,467.10. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.44% of the stock is owned by insiders.

Permian Resources Stock Up 1.7%

Shares of Permian Resources stock opened at $12.52 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.34. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33. The business has a fifty day simple moving average of $13.31 and a 200 day simple moving average of $13.20. The stock has a market cap of $10.02 billion, a PE ratio of 8.13 and a beta of 1.32.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.8%. Permian Resources’s payout ratio is 38.96%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PR. Wells Fargo & Company cut their price objective on Permian Resources from $21.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. William Blair began coverage on Permian Resources in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Susquehanna lifted their price objective on Permian Resources from $19.00 to $20.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, Morgan Stanley upped their price target on Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.73.

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.