Yousif Capital Management LLC Acquires 62,210 Shares of Permian Resources Co. (NASDAQ:PR)

Yousif Capital Management LLC grew its holdings in Permian Resources Co. (NASDAQ:PR) by 52.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 181,011 shares of the company’s stock after buying an additional 62,210 shares during the quarter. Yousif Capital Management LLC’s holdings in Permian Resources were worth $2,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in Permian Resources during the 4th quarter worth approximately $33,000. GAMMA Investing LLC bought a new stake in Permian Resources during the 4th quarter worth approximately $43,000. Clearstead Advisors LLC bought a new stake in Permian Resources during the 3rd quarter worth approximately $45,000. Optimum Investment Advisors bought a new stake in Permian Resources during the 4th quarter worth approximately $50,000. Finally, Fifth Third Bancorp increased its holdings in Permian Resources by 1,290.7% during the 4th quarter. Fifth Third Bancorp now owns 4,172 shares of the company’s stock worth $57,000 after acquiring an additional 3,872 shares during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $17.54 on Tuesday. Permian Resources Co. has a 52-week low of $8.94 and a 52-week high of $18.28. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 15.12 and a beta of 4.35. The company has a fifty day moving average of $16.75 and a 200-day moving average of $14.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Equities research analysts expect that Permian Resources Co. will post 1.66 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 annualized dividend and a yield of 1.14%. Permian Resources’s payout ratio is currently 17.24%.

Analyst Ratings Changes

A number of analysts recently weighed in on PR shares. Citigroup upped their target price on shares of Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Susquehanna increased their price target on shares of Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Bank of America began coverage on shares of Permian Resources in a report on Friday, January 5th. They issued a “neutral” rating and a $15.00 price target on the stock. Mizuho increased their price target on shares of Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Truist Financial increased their price target on shares of Permian Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.31.

Insider Buying and Selling at Permian Resources

In other news, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the sale, the chief accounting officer now directly owns 1,047,610 shares of the company’s stock, valued at approximately $15,337,010.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Brent P. Jensen sold 84,554 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $14.96, for a total value of $1,264,927.84. Following the completion of the transaction, the chief accounting officer now directly owns 932,325 shares in the company, valued at approximately $13,947,582. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brent P. Jensen sold 1,853 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders sold 32,916,943 shares of company stock valued at $516,796,999 in the last quarter. Company insiders own 12.80% of the company’s stock.

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.