Richard P Slaughter Associates Inc Has $4.33 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

Richard P Slaughter Associates Inc lifted its position in Permian Resources Co. (NYSE:PR) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,003 shares of the company’s stock after buying an additional 3,474 shares during the quarter. Permian Resources comprises approximately 1.0% of Richard P Slaughter Associates Inc’s holdings, making the stock its 23rd largest position. Richard P Slaughter Associates Inc’s holdings in Permian Resources were worth $4,328,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Wright Investors Service Inc. acquired a new stake in shares of Permian Resources in the fourth quarter worth $498,000. Wedmont Private Capital grew its position in Permian Resources by 13.1% in the 4th quarter. Wedmont Private Capital now owns 16,541 shares of the company’s stock worth $250,000 after purchasing an additional 1,915 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources during the fourth quarter valued at about $31,000. Hilltop National Bank acquired a new position in shares of Permian Resources during the fourth quarter valued at about $58,000. Finally, Regent Peak Wealth Advisors LLC bought a new stake in shares of Permian Resources in the fourth quarter valued at about $185,000. 91.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. UBS Group decreased their price target on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Benchmark reduced their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Truist Financial increased 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. Finally, Morgan Stanley started coverage on Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.06.

Permian Resources Price Performance

Shares of PR stock opened at $15.48 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.88 and a beta of 4.32. The firm’s 50 day moving average is $14.86 and its 200-day moving average is $14.64. Permian Resources Co. has a 1 year low of $12.59 and a 1 year high of $18.28.

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

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase 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 36.36%.

Insider Activity at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.80% of the stock is currently owned by company insiders.

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.