PR (PR) Declares $0.05 Dividend

PR said on May 8, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.

Shares must be purchased before the ex-div date of May 15, 2023 to qualify for the dividend. Shareholders of record as of May 16, 2023 will receive the payment on May 24, 2023.

At the current share price of $9.48 / share, the stock's dividend yield is 2.11%.

Looking back five years and taking a sample every week, the average dividend yield has been 7.43%, the lowest has been 0.91%, and the highest has been 75.53%. The standard deviation of yields is 11.47 (n=236).

The current dividend yield is 0.46 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 533 funds or institutions reporting positions in PR. This is an increase of 33 owner(s) or 6.60% in the last quarter. Average portfolio weight of all funds dedicated to PR is 0.34%, an increase of 54.19%. Total shares owned by institutions increased in the last three months by 15.92% to 326,867K shares. The put/call ratio of PR is 0.31, indicating a bullish outlook.

Analyst Price Forecast Suggests 39.30% Upside

As of April 23, 2023, the average one-year price target for PR is 13.21. The forecasts range from a low of 4.80 to a high of $17.85. The average price target represents an increase of 39.30% from its latest reported closing price of 9.48.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for PR is 3,370MM, an increase of 40.40%. The projected annual non-GAAP EPS is 2.14.

What are Other Shareholders Doing?

Riverstone Holdings holds 68,859K shares representing 21.93% ownership of the company. No change in the last quarter.

Capital World Investors holds 11,841K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 7,923K shares, representing an increase of 33.09%. The firm increased its portfolio allocation in PR by 96.16% over the last quarter.

XOP - SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF holds 11,310K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 11,315K shares, representing a decrease of 0.04%. The firm increased its portfolio allocation in PR by 13.05% over the last quarter.

AMERICAN FUNDS INSURANCE SERIES - Growth Fund Class 1 holds 11,260K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 7,384K shares, representing an increase of 34.42%. The firm increased its portfolio allocation in PR by 106.43% over the last quarter.

River Road Asset Management holds 8,382K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 8,443K shares, representing a decrease of 0.72%. The firm increased its portfolio allocation in PR by 10.35% over the last quarter.

Permian Resources Background Information
(This description is provided by the company.)

Centennial is an independent oil and natural gas company focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company's assets and operations, which are held and conducted through CRP, are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.

This story originally appeared on Fintel.