Permian Resources Corporation $PR Shares Acquired by Inceptionr LLC

Inceptionr LLC increased its position in shares of Permian Resources Corporation (NYSE:PR) by 72.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,596 shares of the company’s stock after purchasing an additional 9,520 shares during the quarter. Inceptionr LLC’s holdings in Permian Resources were worth $308,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PR. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Permian Resources by 154.4% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after buying an additional 1,391 shares in the last quarter. Keystone Global Partners LLC acquired a new stake in Permian Resources in the 1st quarter valued at about $36,000. FNY Investment Advisers LLC acquired a new stake in Permian Resources in the 2nd quarter valued at about $36,000. Parkside Financial Bank & Trust increased its holdings in Permian Resources by 90.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock valued at $39,000 after acquiring an additional 1,357 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in Permian Resources by 433.9% during the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock worth $43,000 after acquiring an additional 2,534 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PR. Piper Sandler lowered their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Scotiabank initiated coverage on Permian Resources in a report on Friday, September 19th. They set a “sector outperform” rating and a $21.00 target price on the stock. UBS Group raised their price target on Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Wells Fargo & Company decreased their price objective on Permian Resources from $21.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Insider Transactions at Permian Resources

In related news, EVP Robert Regan Shannon sold 4,742 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the sale, the executive vice president directly owned 91,805 shares in the company, valued at approximately $1,305,467.10. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Charles Bell sold 4,743 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total transaction of $67,398.03. Following the transaction, the executive vice president directly owned 107,569 shares of the company’s stock, valued at $1,528,555.49. This trade represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.44% of the company’s stock.

Permian Resources Trading Up 1.0%

Shares of PR opened at $14.51 on Friday. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.03. The company has a market capitalization of $12.03 billion, a PE ratio of 13.31 and a beta of 1.31. The stock has a fifty day moving average of $13.04 and a two-hundred day moving average of $13.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.22). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.Permian Resources’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. As a group, analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $0.60 annualized dividend and a yield of 4.1%. Permian Resources’s payout ratio is 55.05%.

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.