Americana Partners LLC Acquires Shares of 31,714 Permian Resources Co. (NYSE:PR)

Americana Partners LLC acquired a new stake in shares of Permian Resources Co. (NYSE:PR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,714 shares of the company’s stock, valued at approximately $432,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Permian Resources by 0.7% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 184,475 shares of the company’s stock valued at $2,511,000 after acquiring an additional 1,370 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Permian Resources by 42.8% in the 3rd quarter. New York State Teachers Retirement System now owns 197,179 shares of the company’s stock worth $2,684,000 after buying an additional 59,099 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Permian Resources by 151.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,179 shares of the company’s stock worth $234,000 after buying an additional 10,346 shares during the last quarter. Inscription Capital LLC lifted its position in shares of Permian Resources by 7.1% in the 3rd quarter. Inscription Capital LLC now owns 24,088 shares of the company’s stock worth $328,000 after buying an additional 1,587 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of Permian Resources by 8,360.8% in the 3rd quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock worth $699,000 after buying an additional 50,750 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $1,075,911.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $1,075,911.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Permian Resources Stock Down 1.5 %

Permian Resources stock opened at $13.42 on Friday. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.82 and a beta of 4.34. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $13.89 and its two-hundred day moving average price is $15.19. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28.

Permian Resources (NYSE:PR) last released its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. Permian Resources’s quarterly revenue was up 99.9% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. On average, analysts expect that Permian Resources Co. will post 1.46 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.79%. Permian Resources’s payout ratio is 19.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PR. The Goldman Sachs Group began coverage on shares of Permian Resources in a research report on Monday, September 30th. They issued a “buy” rating and a $19.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Piper Sandler reduced their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Benchmark reduced their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.73.

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.