Avior Wealth Management LLC Reduces Holdings in Permian Resources Co. (NYSE:PR)

Avior Wealth Management LLC lessened its holdings in Permian Resources Co. (NYSE:PR) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,770 shares of the company’s stock after selling 2,831 shares during the period. Avior Wealth Management LLC’s holdings in Permian Resources were worth $1,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PR. Sunbelt Securities Inc. raised its stake in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares during the last quarter. Icon Wealth Advisors LLC raised its position in shares of Permian Resources by 1.0% in the third quarter. Icon Wealth Advisors LLC now owns 130,880 shares of the company’s stock valued at $1,781,000 after buying an additional 1,349 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Permian Resources by 0.7% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 184,475 shares of the company’s stock valued at $2,511,000 after buying an additional 1,370 shares during the period. UMB Bank n.a. boosted its position 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. Finally, Inscription Capital LLC grew its stake in 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 acquiring an additional 1,587 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Stock Performance

Permian Resources stock opened at $15.57 on Friday. The firm has a market capitalization of $12.51 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 4.60 and a beta of 4.32. Permian Resources Co. has a one year low of $12.59 and a one year high of $18.28. The stock’s 50 day moving average price is $14.96 and its 200 day moving average price is $14.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. As a group, sell-side analysts expect that Permian Resources Co. will post 1.44 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. Stockholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.85%. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.

Analyst Ratings Changes

PR has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 price target on the stock. Benchmark decreased their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley assumed coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. Wells Fargo & Company decreased their target price 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. Finally, Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.06.

Permian Resources 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.