Affinity Wealth Management LLC Has $511,000 Holdings in Permian Resources Co. (NYSE:PR)

Affinity Wealth Management LLC trimmed its position in Permian Resources Co. (NYSE:PR) by 88.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,567 shares of the company’s stock after selling 283,881 shares during the quarter. Affinity Wealth Management LLC’s holdings in Permian Resources were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PR. Vanguard Group Inc. grew its stake in shares of Permian Resources by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company’s stock valued at $949,189,000 after purchasing an additional 5,432,654 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Permian Resources by 9.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,607,623 shares of the company’s stock worth $268,213,000 after acquiring an additional 1,471,833 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Permian Resources by 59.6% during the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock valued at $194,585,000 after acquiring an additional 4,497,184 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Permian Resources by 20.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock valued at $147,107,000 after purchasing an additional 1,555,884 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Permian Resources by 480.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock worth $106,924,000 after purchasing an additional 5,012,287 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PR shares. Benchmark restated a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a research report on Wednesday, August 7th. Citigroup decreased their price target on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Truist Financial cut their price objective on Permian Resources from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, UBS Group lowered their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.20.

Insider Activity

In related news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

Permian Resources Trading Down 1.4 %

Shares of Permian Resources stock traded down $0.20 on Monday, hitting $14.32. 629,167 shares of the company’s stock traded hands, compared to its average volume of 10,062,381. The firm’s 50-day moving average price is $14.06 and its two-hundred day moving average price is $15.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $11.49 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.85 and a beta of 4.32. Permian Resources Co. has a one year low of $12.34 and a one year high of $18.28.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 99.9% on a year-over-year basis. On average, research analysts expect that Permian Resources Co. will post 1.49 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.68%. Permian Resources’s dividend payout ratio is 19.20%.

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.