MADDEN SECURITIES Corp Invests $925,000 in Permian Resources Co. (NYSE:PR)

MADDEN SECURITIES Corp bought a new stake in Permian Resources Co. (NYSE:PR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 67,975 shares of the company’s stock, valued at approximately $925,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in Permian Resources by 99.2% during 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 during the last quarter. Sanders Morris Harris LLC grew its holdings in shares of Permian Resources by 44.3% during the 3rd quarter. Sanders Morris Harris LLC now owns 325,579 shares of the company’s stock worth $4,431,000 after purchasing an additional 100,000 shares during the period. Wedmont Private Capital acquired a new stake in Permian Resources during the 3rd quarter worth approximately $218,000. Hexagon Capital Partners LLC raised its holdings in 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 buying an additional 1,998 shares during the period. Finally, CWM LLC raised its holdings in Permian Resources by 74.2% in the third quarter. CWM LLC now owns 8,682 shares of the company’s stock valued at $118,000 after buying an additional 3,698 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PR shares. Benchmark reissued a “buy” rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Wednesday, August 7th. Mizuho lowered their price target on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company reduced their price objective on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Piper Sandler reduced their price target on Permian Resources from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Permian Resources Trading Up 0.8 %

Permian Resources stock opened at $14.52 on Friday. The firm has a 50 day simple moving average of $14.06 and a 200-day simple moving average of $15.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $11.18 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.85 and a beta of 4.32. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28.

Permian Resources (NYSE:PR) last announced its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 99.9% on a year-over-year basis. As a group, equities research analysts expect that Permian Resources Co. will post 1.49 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. Permian Resources’s dividend payout ratio is currently 21.82%.

Insider Activity

In other news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.80% of the company’s stock.

Permian Resources Company 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.