766,438 Shares in Permian Resources Corporation $PR Bought by Dockside LLC

Dockside LLC acquired a new position in Permian Resources Corporation (NYSE:PR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 766,438 shares of the company’s stock, valued at approximately $10,753,000. Permian Resources comprises about 2.8% of Dockside LLC’s investment portfolio, making the stock its 2nd biggest position.

Other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Permian Resources in the fourth quarter worth $39,000. State of Wyoming grew its stake in shares of Permian Resources by 126.8% in the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after purchasing an additional 1,640 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Permian Resources by 340.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Permian Resources in the fourth quarter worth $60,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Permian Resources by 126.1% in the fourth quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after purchasing an additional 2,477 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of NYSE PR opened at $19.48 on Friday. The firm’s 50-day moving average price is $20.32 and its 200-day moving average price is $17.74. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. The firm has a market capitalization of $16.31 billion, a P/E ratio of 22.65 and a beta of 0.48. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Permian Resources Corporation will post 2.01 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. Permian Resources’s dividend payout ratio is currently 74.42%.

Insider Activity

In other news, Director William J. Quinn sold 512,429 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.59, for a total transaction of $10,038,484.11. Following the transaction, the director owned 6,914,410 shares in the company, valued at approximately $135,453,291.90. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aron Marquez sold 7,750 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00. Following the transaction, the director owned 72,218 shares in the company, valued at $1,416,917.16. This represents a 9.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 588,198 shares of company stock worth $11,576,280. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PR shares. Truist Financial upped their price target on shares of Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Mizuho upped their price target on shares of Permian Resources from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price target on shares of Permian Resources in a research report on Thursday, February 26th. Royal Bank Of Canada upped their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Finally, KeyCorp started coverage on shares of Permian Resources in a research report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

About Permian Resources

Permian Resources (NYSE: PR) is 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.