Seven Grand Managers LLC Has $10.21 Million Stake in Permian Resources Co. (NYSE:PR)

Seven Grand Managers LLC raised its holdings in Permian Resources Co. (NYSE:PR) by 50.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 750,000 shares of the company’s stock after acquiring an additional 250,000 shares during the quarter. Permian Resources comprises 2.3% of Seven Grand Managers LLC’s holdings, making the stock its 16th biggest holding. Seven Grand Managers LLC’s holdings in Permian Resources were worth $10,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Permian Resources during the first quarter worth $32,000. Innealta Capital LLC acquired a new stake in Permian Resources in the 2nd quarter worth about $30,000. Hexagon Capital Partners LLC boosted its holdings in Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Permian Resources during the 1st quarter worth approximately $36,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Permian Resources during the second quarter worth approximately $40,000. 91.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PR has been the topic of a number of analyst reports. Wolfe Research began coverage on Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Citigroup reduced their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company dropped their price target on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Benchmark reduced their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.73.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction 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 $1,075,911.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value 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 $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’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 directly owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Permian Resources Price Performance

Permian Resources stock opened at $13.98 on Thursday. The stock’s 50 day moving average price is $14.07 and its two-hundred day moving average price is $15.51. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.85 and a beta of 4.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. Permian Resources Co. has a 52-week low of $12.34 and a 52-week high of $18.28.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 99.9% on a year-over-year basis. On average, equities analysts predict that Permian Resources Co. will post 1.49 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.72%. Permian Resources’s payout ratio is 21.82%.

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.