Bank of New York Mellon Corp Sells 9,913,664 Shares of Permian Resources Corporation $PR
Bank of New York Mellon Corp cut its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 39. 4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,240,038 shares of the company's s
Bank of New York Mellon Corp cut its position in shares of Permian Resources Corporation (NYSE:PR-Free Report) by 39. 4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,240,038 shares of the company's stock after selling 9,913,664 shares during the period. Bank of New York Mellon Corp owned about 1. 82% of Permian Resources worth $324,918,000 at the end of the most recent reporting period. GetPermian Resourcesalerts:If There's a Domestic Manufacturing Boom, These 3 Stocks Could WinSeveral other hedge funds and other institutional investors have also recently bought and sold shares of the company. SHP Wealth Management acquired a new position in Permian Resources during the 4th quarter worth about $27,000. SJS Investment Consulting Inc. boosted its stake in Permian Resources by 1,862. 5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company's stock worth $30,000 after acquiring an additional 1,341 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Permian Resources during the fourth quarter valued at approximately $39,000. State of Wyoming grew its holdings in Permian Resources by 126. 8% during the fourth quarter. State of Wyoming now owns 2,933 shares of the company's stock valued at $41,000 after purchasing an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC bought a new stake in Permian Resources in the first quarter valued at approximately $48,000. 91. 84% of the stock is owned by institutional investors. Analysts Set New Price TargetsA number of brokerages recently commented on PR. KeyCorp started coverage on Permian Resources in a research report on Tuesday, April 7th. They issued an "overweight" rating and a $25. 00 price target on the stock. Mizuho upped their target price on Permian Resources from $26. 00 to $27. 00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. BMO Capital Markets raised shares of Permian Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 7th. Weiss Ratingslowered Permian Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of Permian Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $23. 29. High Yield Revival: 3 Cash-Rich Dividend Payers on SaleGet Our Latest Stock Analysis on PRPermian Resources Stock Up 2. 4%Shares ofNYSE PRopened at $20. 20 on Friday. The firm's fifty day moving average is $19. 44 and its 200 day moving average is $18. 53. Permian Resources Corporation has a 52 week low of $11. 92 and a 52 week high of $22. 67. The company has a quick ratio of 0. 66, a current ratio of 0. 66 and a debt-to-equity ratio of 0. 31. The company has a market cap of $16. 91 billion, a price-to-earnings ratio of 23. 49 and a beta of 0. 46. Plastic Surgery: Winners and Losers of the Proposed 10% Interest CapPermian Resources (NYSE:PR-Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0. 39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0. 38 by $0. 01. The firm had revenue of $1. 39 billion for the quarter, compared to analysts' expectations of $1. 41 billion. Permian Resources had a net margin of 12. 79% and a return on equity of 10. 53%. The company's revenue for the quarter was up . 9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0. 44 earnings per share. On average, equities research analysts expect that Permian Resources Corporation will post 1. 93 earnings per share for the current year. Permian Resources Announces DividendThe firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0. 16 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0. 64 annualized dividend and a yield of 3. 2%. Permian Resources's dividend payout ratio (DPR) is 74. 42%. Insider Activity at Permian ResourcesIn related news, EVPGuy M. Oliphintsold 62,769 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $20. 44, for a total value of $1,282,998. 36. Following the completion of the sale, the executive vice president owned 542,503 shares of the company's stock, valued at $11,088,761. 32. This trade represents a 10. 37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available throughthis link. 5. 00% of the stock is currently owned by corporate insiders. About Permian Resources(Free Report)Permian ResourcesNYSE: PRis an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth. Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico. Read MoreFive stocks we like better than Permian ResourcesAST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space SectorAehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue GrowthTSMC Just Gave AI Chip Bulls Another Reason to Stay ConfidentGE Aerospace Faces a Prove-It Moment in Q2 EarningsWant to see what other hedge funds are holding PR?Visit HoldingsChannel. comto get the latest 13F filings and insider trades for Permian Resources Corporation (NYSE:PR-Free Report). This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat. com. Should You Invest $1,000 in Permian Resources Right Now?Before you consider Permian Resources, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified thefive stocksthat top analysts are quietly whispering to their clients to buy now before the broader market catches on. . . and Permian Resources wasn't on the list. While Permian Resources currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys. 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