GSA Capital Partners LLP bought a new position in shares of Permian Resources Co. (NYSE:PR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 83,302 shares of the company's stock, valued at approximately $1,134,000.
Several other large investors also recently bought and sold shares of the stock. American International Group Inc. raised its holdings in shares of Permian Resources by 10.4% in the 1st quarter. American International Group Inc. now owns 830,432 shares of the company's stock valued at $14,665,000 after purchasing an additional 78,146 shares in the last quarter. Castleark Management LLC raised its stake in Permian Resources by 370.0% in the first quarter. Castleark Management LLC now owns 96,160 shares of the company's stock valued at $1,698,000 after buying an additional 75,700 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Permian Resources by 11.2% during the 1st quarter. California State Teachers Retirement System now owns 435,627 shares of the company's stock worth $7,693,000 after buying an additional 43,901 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Permian Resources by 88.3% during the 1st quarter. Janus Henderson Group PLC now owns 330,382 shares of the company's stock worth $5,833,000 after acquiring an additional 154,907 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Permian Resources by 47.2% in the 1st quarter. 1832 Asset Management L.P. now owns 1,322,381 shares of the company's stock valued at $23,353,000 after acquiring an additional 423,824 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.
PR has been the subject of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. Susquehanna lowered their target price on shares of Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Mizuho cut their price target on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Citigroup decreased their price objective on shares of Permian Resources from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Finally, Piper Sandler dropped their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.87.
Get Our Latest Stock Report on PR
NYSE:PR opened at $15.18 on Friday. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock's 50 day simple moving average is $14.00 and its 200-day simple moving average is $15.03. The firm has a market cap of $12.18 billion, a P/E ratio of 9.20, a PEG ratio of 0.91 and a beta of 4.34.
Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period in the previous year, the company posted $0.36 EPS. Permian Resources's revenue was up 60.3% compared to the same quarter last year. Equities analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be issued a dividend of $0.15 per share. This is a boost from Permian Resources's previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, November 14th. Permian Resources's dividend payout ratio is currently 14.55%.
In related news, CAO Robert Regan Shannon sold 4,822 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the sale, the chief accounting officer now owns 61,399 shares of the company's stock, valued at approximately $855,288.07. The trade was a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Charles Bell sold 4,821 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is owned by insiders.
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.
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