Permian Resources Co. (NYSE:PR) Shares Purchased by Polianta Ltd

Polianta Ltd raised its position in Permian Resources Co. (NYSE:PR) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,800 shares of the company’s stock after acquiring an additional 17,000 shares during the quarter. Polianta Ltd’s holdings in Permian Resources were worth $1,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Simplicity Wealth LLC grew its stake in Permian Resources by 5.2% during the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after purchasing an additional 646 shares in the last quarter. GAMMA Investing LLC lifted its stake in Permian Resources by 19.6% in the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock worth $70,000 after acquiring an additional 716 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in Permian Resources by 2.0% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock worth $677,000 after acquiring an additional 740 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock valued at $454,000 after purchasing an additional 781 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Permian Resources by 0.5% in the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after purchasing an additional 949 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PR has been the subject of several research analyst reports. Mizuho lowered their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Susquehanna dropped their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Permian Resources in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Permian Resources Stock Performance

PR opened at $14.52 on Monday. The business has a fifty day simple moving average of $14.06 and a 200-day simple moving average of $15.57. The firm has a market cap of $11.65 billion, a PE ratio of 11.62, a P/E/G ratio of 0.85 and a beta of 4.32. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28.

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

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio is currently 19.20%.

Insider Activity at Permian Resources

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

About Permian Resources

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.