First Dallas Securities Inc. Grows Stock Position in Permian Resources Co. (NASDAQ:PR)

First Dallas Securities Inc. lifted its position in Permian Resources Co. (NASDAQ:PR) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,387 shares of the company’s stock after acquiring an additional 1,877 shares during the quarter. First Dallas Securities Inc.’s holdings in Permian Resources were worth $668,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. New York State Common Retirement Fund bought a new position in Permian Resources in the 4th quarter valued at $1,550,000. Atria Wealth Solutions Inc. bought a new position in shares of Permian Resources in the fourth quarter worth about $159,000. Truist Financial Corp increased its stake in Permian Resources by 9.4% in the 4th quarter. Truist Financial Corp now owns 12,653 shares of the company’s stock worth $172,000 after buying an additional 1,086 shares during the period. Fisher Asset Management LLC bought a new stake in Permian Resources during the 4th quarter valued at about $2,642,000. Finally, Swiss National Bank lifted its holdings in Permian Resources by 31.1% during the 4th quarter. Swiss National Bank now owns 724,348 shares of the company’s stock valued at $9,851,000 after buying an additional 171,648 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

PR traded up $0.08 during trading on Thursday, reaching $13.65. 822,753 shares of the company’s stock were exchanged, compared to its average volume of 9,919,891. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. Permian Resources Co. has a 1 year low of $12.34 and a 1 year high of $18.28. The company’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $15.98. The stock has a market capitalization of $10.95 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm’s revenue for the quarter was up 99.9% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. As a group, research analysts predict that Permian Resources Co. will post 1.63 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

PR has been the topic of several research reports. Citigroup reduced their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Susquehanna decreased their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group lowered their price objective on shares of Permian Resources from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $17.00 target price on shares of Permian Resources in a research report on Wednesday, August 7th. Finally, Mizuho upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. 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 stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $19.93.

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.