Inscription Capital LLC Boosts Stake in Permian Resources Co. (NYSE:PR)

Inscription Capital LLC raised its position in Permian Resources Co. (NYSE:PR) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,088 shares of the company’s stock after acquiring an additional 1,587 shares during the quarter. Inscription Capital LLC’s holdings in Permian Resources were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PR. Park Avenue Securities LLC acquired a new position in shares of Permian Resources in the first quarter valued at approximately $236,000. Wealth Enhancement Advisory Services LLC boosted its position in Permian Resources by 62.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 151,415 shares of the company’s stock valued at $2,674,000 after buying an additional 58,090 shares during the period. State of Michigan Retirement System grew its stake in shares of Permian Resources by 24.7% in the first quarter. State of Michigan Retirement System now owns 112,700 shares of the company’s stock worth $1,990,000 after acquiring an additional 22,300 shares in the last quarter. Saxon Interests Inc. acquired a new position in shares of Permian Resources in the first quarter worth $230,000. Finally, Azzad Asset Management Inc. ADV increased its position in shares of Permian Resources by 2.0% during the first 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 during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PR. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 target price for the company. Mizuho cut their target price 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. Piper Sandler decreased their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Wolfe Research began coverage on shares of Permian Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, UBS Group decreased their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.73.

Permian Resources Stock Down 2.2 %

PR opened at $13.61 on Tuesday. Permian Resources Co. has a one year low of $12.34 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market capitalization of $10.92 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.84 and a beta of 4.32. The business’s 50-day simple moving average is $13.94 and its 200-day simple moving average is $15.27.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm’s revenue was up 99.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Analysts anticipate that Permian Resources Co. will post 1.46 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.76%. Permian Resources’s dividend payout ratio (DPR) is 19.20%.

Insider Buying and Selling

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources 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 transaction, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

Permian Resources Company 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.