NINE MASTS CAPITAL Ltd Acquires Shares of 19,100 Permian Resources Co. (NASDAQ:PR)

NINE MASTS CAPITAL Ltd acquired a new stake in Permian Resources Co. (NASDAQ:PR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,100 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Permian Resources during the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. bought a new position in shares of Permian Resources during the first quarter valued at approximately $26,000. Parallel Advisors LLC raised its holdings in shares of Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after buying an additional 1,178 shares during the period. Innealta Capital LLC bought a new stake in shares of Permian Resources during the 2nd quarter worth approximately $30,000. Finally, Rise Advisors LLC purchased a new position in Permian Resources during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Up 1.1 %

Permian Resources stock opened at $13.04 on Thursday. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a market cap of $10.47 billion, a PE ratio of 11.85, a PEG ratio of 0.72 and a beta of 4.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. The business’s 50-day simple moving average is $14.88 and its two-hundred day simple moving average is $15.93.

Permian Resources (NASDAQ:PR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 99.9% on a year-over-year basis. Equities analysts anticipate that Permian Resources Co. will post 1.63 EPS for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.84%. Permian Resources’s dividend payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PR. Truist Financial boosted their price objective on shares of Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Citigroup dropped their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wolfe Research began coverage on Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group dropped their price target on Permian Resources from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Permian Resources in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.93.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm’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 sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 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 value of $67,170.46. Following the transaction, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

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.