ORG Partners LLC Has $152,000 Stock Holdings in Permian Resources Co. (NASDAQ:PR)

ORG Partners LLC boosted its position in Permian Resources Co. (NASDAQ:PR) by 2,972.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,432 shares of the company’s stock after buying an additional 9,125 shares during the quarter. ORG Partners LLC’s holdings in Permian Resources were worth $152,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Permian Resources during the 1st quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new position in shares of Permian Resources during the 1st quarter worth approximately $26,000. Parallel Advisors LLC increased its position in shares of Permian Resources by 117.0% during the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after purchasing an additional 1,178 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Permian Resources during the 1st quarter worth approximately $32,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Permian Resources during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 1.4 %

NASDAQ:PR traded up $0.21 on Thursday, hitting $14.88. The stock had a trading volume of 899,914 shares, compared to its average volume of 10,204,129. The company has a market cap of $11.46 billion, a PE ratio of 13.34, a P/E/G ratio of 0.57 and a beta of 4.37. Permian Resources Co. has a 52 week low of $12.19 and a 52 week high of $18.28. The business’s fifty day moving average is $15.53 and its 200 day moving average is $15.91. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NASDAQ:PR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.25 billion during 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 company’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts expect that Permian Resources Co. will post 1.71 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, August 19th. Permian Resources’s payout ratio is currently 21.82%.

Wall Street Analyst Weigh In

PR has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Permian Resources from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Citigroup lowered their price target on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Bank of America reissued a “buy” rating and set a $20.00 price target on shares of Permian Resources in a report on Friday, June 14th. Benchmark reissued a “buy” rating and set a $17.00 price target on shares of Permian Resources in a report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.00.

About Permian Resources

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.