Permian Resources Corporation $PR Shares Sold by Sharpepoint LLC

Sharpepoint LLC lowered its stake in shares of Permian Resources Corporation (NYSE:PR) by 21.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,466 shares of the company’s stock after selling 34,685 shares during the quarter. Permian Resources comprises about 1.6% of Sharpepoint LLC’s holdings, making the stock its 24th largest position. Sharpepoint LLC’s holdings in Permian Resources were worth $2,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Permian Resources by 69.2% during the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after acquiring an additional 61,230 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Permian Resources by 18.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after purchasing an additional 852,347 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Permian Resources by 7.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock worth $16,751,000 after purchasing an additional 87,105 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Permian Resources by 340.8% during 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. Finally, Marshall Wace LLP lifted its holdings in shares of Permian Resources by 21.3% during the second quarter. Marshall Wace LLP now owns 93,507 shares of the company’s stock worth $1,274,000 after purchasing an additional 16,443 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Trading Up 0.2%

NYSE:PR opened at $19.62 on Thursday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day moving average price of $19.44 and a two-hundred day moving average price of $18.48. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 22.82 and a beta of 0.46.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping 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 company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Permian Resources Corporation will post 1.89 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. KeyCorp began coverage on shares of Permian Resources in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 price objective on the stock. BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Zacks Research downgraded shares of Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Scotiabank boosted their price target on shares of Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial cut their price target on shares of Permian Resources from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $23.24.

Insiders Place Their Bets

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the transaction, the executive vice president directly owned 542,503 shares in the company, valued at approximately $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.

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.