Coldstream Capital Management Inc. Purchases Shares of 12,346 Permian Resources Co. (NYSE:PR)

Coldstream Capital Management Inc. acquired a new position in shares of Permian Resources Co. (NYSE:PR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,346 shares of the company’s stock, valued at approximately $169,000.

A number of other institutional investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its stake in Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the period. Innealta Capital LLC acquired a new stake in shares of Permian Resources during the second quarter worth $30,000. UMB Bank n.a. boosted its position in shares of Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after acquiring an additional 1,390 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Permian Resources in the second quarter valued at about $40,000. Finally, Blue Trust Inc. increased its position in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

PR has been the topic of a number of analyst reports. Piper Sandler decreased their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Wells Fargo & Company cut their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Mizuho reduced their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Benchmark cut their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Two 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’s stock. According to data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.87.

Permian Resources Stock Down 1.3 %

Shares of NYSE:PR opened at $13.97 on Wednesday. Permian Resources Co. has a 52-week low of $12.59 and a 52-week high of $18.28. The company has a market capitalization of $11.22 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 0.88 and a beta of 4.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The company has a fifty day moving average of $14.65 and a 200-day moving average of $14.79.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business’s quarterly revenue was up 60.3% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. On average, equities analysts predict that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.29%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s payout ratio is presently 36.36%.

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.