GAMMA Investing LLC Increases Holdings in Permian Resources Co. (NYSE:PR)

GAMMA Investing LLC boosted its stake in shares of Permian Resources Co. (NYSE:PR) by 1,340.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,269 shares of the company’s stock after buying an additional 85,863 shares during the period. GAMMA Investing LLC’s holdings in Permian Resources were worth $1,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. lifted its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the period. Global Retirement Partners LLC increased its position in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources during the fourth quarter worth $41,000. Finally, Lindbrook Capital LLC increased its position in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after purchasing an additional 2,155 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

PR has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Bank of America upped their price target on Permian Resources from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Susquehanna reduced their price target on Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.56.

Permian Resources Price Performance

Shares of PR opened at $14.95 on Monday. The business’s 50-day moving average is $12.61 and its two-hundred day moving average is $13.66. The company has a market capitalization of $12.01 billion, a P/E ratio of 9.06, a P/E/G ratio of 4.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $16.95.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. Permian Resources’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Research analysts predict that Permian Resources Co. will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.01%. The ex-dividend date is Monday, June 16th. Permian Resources’s dividend payout ratio is currently 37.04%.

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.