Schwartz Investment Counsel Inc. purchased a new position in shares of Permian Resources Corporation (NYSE:PR – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 120,500 shares of the company’s stock, valued at approximately $2,569,000.
Other hedge funds have also recently modified their holdings of the company. Horizon Investments LLC raised its holdings in Permian Resources by 80.8% during the fourth quarter. Horizon Investments LLC now owns 420,448 shares of the company’s stock worth $5,899,000 after purchasing an additional 187,903 shares in the last quarter. Jennison Associates LLC boosted its holdings in Permian Resources by 2.8% in the 4th quarter. Jennison Associates LLC now owns 3,818,742 shares of the company’s stock valued at $53,577,000 after purchasing an additional 105,396 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Permian Resources by 98.0% in the 1st quarter. Sterling Capital Management LLC now owns 168,262 shares of the company’s stock valued at $3,587,000 after purchasing an additional 83,302 shares in the last quarter. HighTower Advisors LLC increased its position in Permian Resources by 55.2% during the 4th quarter. HighTower Advisors LLC now owns 259,403 shares of the company’s stock worth $3,639,000 after purchasing an additional 92,309 shares during the period. Finally, UBS Group AG raised its stake in shares of Permian Resources by 39.5% during the 4th quarter. UBS Group AG now owns 6,560,632 shares of the company’s stock worth $92,046,000 after buying an additional 1,858,992 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.
Permian Resources Stock Performance
PR opened at $19.61 on Tuesday. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. The stock has a market cap of $16.42 billion, a P/E ratio of 22.80 and a beta of 0.46. The stock’s 50 day simple moving average is $19.52 and its 200 day simple moving average is $18.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66.
Permian Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a $0.16 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. Permian Resources’s payout ratio is currently 74.42%.
Insider Buying and Selling
In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the completion of the transaction, the executive vice president directly owned 542,503 shares in the company, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on PR shares. Morgan Stanley reduced their price target on Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. TD Cowen raised their target price on Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Wells Fargo & Company set a $26.00 target price on shares of Permian Resources in a research report on Monday, May 25th. Finally, Raymond James Financial lowered their price target on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, June 17th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $23.35.
Permian Resources Company Profile
Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.
Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.
Read More
- Five stocks we like better than Permian Resources
- The SK Hynix IPO and 2027’s AI Memory Squeeze
- Meta Platforms Stock Rises as Muse Spark 1.1 AI Model Debuts
- Why Welltower’s Growth Story Might Outrun Its Rich Valuation
- One Short- and One Long-Term ETF for Quantum Computing Bulls
Receive News & Ratings for Permian Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Resources and related companies with MarketBeat.com's FREE daily email newsletter.
